[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f2vsm55g0e3p8v":3,"$ffeh0925h8cuz":43,"$f2emv3tus0uf1":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},4258,"whats-actually-happening-with-home-prices-today","What’s Actually Happening with Home Prices Today?","One of the biggest questions people are asking right now is: \u003Cem>what’s happening with home prices\u003C\u002Fem>? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.\r\n\r\n","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F08\u002F29125052\u002F20220830-KCM-Share.jpg","One of the biggest questions people are asking right now is: \u003Cem>what’s happening with home prices\u003C\u002Fem>? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.\r\n\r\n\u003C!--more-->\r\n\r\nPart of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today.\r\n\u003Cul>\r\n \t\u003Cli>\u003Cstrong>Appreciation\u003C\u002Fstrong> is when home prices \u003Cem>increase\u003C\u002Fem>.\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Depreciation\u003C\u002Fstrong> is when home prices \u003Cem>decrease\u003C\u002Fem>.\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Deceleration\u003C\u002Fstrong> is when home prices \u003Cem>continue to appreciate, but at a slower or more moderate pace.\u003C\u002Fem>\u003C\u002Fli>\r\n\u003C\u002Ful>\r\nExperts agree that, nationally, what we’re seeing today is \u003Cstrong>deceleration\u003C\u002Fstrong>. That means home prices are appreciating, just not at the record-breaking pace they have over the past year. In 2021, \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fintelligence\u002Fcorelogic-hpi-posted-record-year-over-year-growth-in-2021\u002F\">data\u003C\u002Fa> from \u003Cem>CoreLogic\u003C\u002Fem> tells us home prices \u003Cstrong>appreciated\u003C\u002Fstrong> by an average of 15% nationwide. And earlier this year, that appreciation was upward of 20%. This year, \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F08\u002F11\u002Fwhat-does-the-rest-of-the-year-hold-for-home-prices\u002F\">experts forecast\u003C\u002Fa> home prices will appreciate at a \u003Cstrong>decelerated\u003C\u002Fstrong> pace of around 10 to 11%, on average.\r\n\r\nThe graph below uses the \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fintelligence\u002Fu-s-home-price-insights\u002F\">latest data\u003C\u002Fa> from \u003Cem>CoreLogic\u003C\u002Fem> to help tell the story of how home prices are \u003Cstrong>decelerating\u003C\u002Fstrong>, but not \u003Cstrong>depreciating\u003C\u002Fstrong> so far this year.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F08\u002F29125050\u002F20220830-MEM-Eng.png\">\u003Cimg class=\"aligncenter wp-image-47079\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F08\u002F29125050\u002F20220830-MEM-Eng.png\" alt=\"What’s Actually Happening with Home Prices Today? | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nAs the green bars show, home prices \u003Cstrong>appreciated\u003C\u002Fstrong> between 19-20% year-over-year from January to March. But over the last few months, the pace of that appreciation has \u003Cstrong>decelerated\u003C\u002Fstrong> to 18%. This means price growth is still climbing compared to last year but at a slower rate.\r\n\r\nAs the \u003Cem>Monthly Mortgage Monitor\u003C\u002Fem> from\u003Cem> Black Knight \u003C\u002Fem>\u003Ca href=\"https:\u002F\u002Fwww.blackknightinc.com\u002Fblack-knights-june-2022-mortgage-monitor\u002F?\">explains\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“Annual home price growth dropped by nearly two percentage points . . . \u003C\u002Fem>– \u003Cem>the greatest single-month slowdown on record since at least the early 1970s. . . \u003Cstrong>While June’s slowdown was record-breaking, home price growth would need to decelerate at this pace for six more months to drive annual appreciation back to 5%, a rate more in line with long-run averages\u003C\u002Fstrong>.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nBasically, this means, while moderating, home prices are still far above the norm, and we’d have to see a lot more \u003Cstrong>deceleration\u003C\u002Fstrong> to even fall in line with more typical rates of home price growth. That’s still not home price depreciation.\r\n\r\nThe big takeaway is home prices haven’t fallen or \u003Cstrong>depreciated \u003C\u002Fstrong>nationwide, they’re just \u003Cstrong>decelerating\u003C\u002Fstrong> or \u003Cstrong>moderating\u003C\u002Fstrong>. While some unique and overheated markets may see declines, nationally, home prices are forecast to appreciate. And when we look at the country as a whole, none of the experts \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F08\u002F05\u002Fhousing-market-forecast-for-the-rest-of-2022-infographic\u002F\">project\u003C\u002Fa> home prices will net depreciate or fall. They’re all projecting ongoing \u003Cstrong>appreciation.\u003C\u002Fstrong>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you have questions about what’s happening with home prices in our local area, let’s connect.","\r\nIf you have questions about what’s happening with home prices in our local area, let’s connect.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F08\u002F29125050\u002F20220830-MEM-Eng.png",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},6,"For Sellers","sellers",{"id":26,"name":27,"slug":28},9,"Home Prices","home-prices","2022-08-30T10:00:07Z","2023-02-03T15:33:55Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},4257,"a-trusted-real-estate-advisor-provides-expert-advice","A Trusted Real Estate Advisor Provides Expert Advice","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F08\u002F25123255\u002F20220829-KCM-Share.jpg","2022-08-29T10:00:48Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},4260,"buyers-you-may-face-less-competition-as-bidding-wars-ease","Buyers: You May Face Less Competition as Bidding Wars Ease","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F08\u002F30093706\u002F20220831-KCM-Share.jpg","2022-08-31T10:00:25Z",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",{"cover":48,"open":49,"shareSpread":50},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[52,56,57,58,62,66,67,71,75,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155,159],{"id":53,"name":54,"slug":55},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":22,"name":23,"slug":24},{"id":59,"name":60,"slug":61},7,"Foreclosures","foreclosures",{"id":63,"name":64,"slug":65},8,"Infographics","infographics",{"id":26,"name":27,"slug":28},{"id":68,"name":69,"slug":70},11,"First-Time Buyers","first-time-buyers",{"id":72,"name":73,"slug":74},34,"Senior Market","senior-market",{"id":76,"name":77,"slug":78},35,"Mortgage Rates","mortgage-rates",{"id":80,"name":81,"slug":82},38,"Move-Up","move-up",{"id":84,"name":85,"slug":86},41,"For Sale by Owner","for-sale-by-owner",{"id":88,"name":89,"slug":90},42,"Featured","featured",{"id":92,"name":93,"slug":94},45,"New Construction","new-construction",{"id":96,"name":97,"slug":98},52,"Luxury \u002F Vacation","luxury--vacation",{"id":100,"name":101,"slug":102},53,"Rent vs. Buy","rent-vs-buy",{"id":104,"name":105,"slug":106},80,"Time-sensitive","time-sensitive",{"id":108,"name":109,"slug":110},81,"Outdated","outdated",{"id":112,"name":113,"slug":114},147,"Internal","internal",{"id":116,"name":117,"slug":118},148,"Do Not Autopost","do-not-autopost",{"id":120,"name":121,"slug":122},320,"Inventory","inventory",{"id":124,"name":125,"slug":126},321,"Agent Value","agent-value",{"id":128,"name":129,"slug":130},322,"Affordability","affordability",{"id":132,"name":133,"slug":134},323,"Buying Tips","buying-tips",{"id":136,"name":137,"slug":138},324,"Downsize","downsize",{"id":140,"name":141,"slug":142},325,"Economy","economy",{"id":144,"name":145,"slug":146},326,"Equity","equity",{"id":148,"name":149,"slug":150},327,"Forecasts","forecasts",{"id":152,"name":153,"slug":154},328,"Selling Tips","selling-tips",{"id":156,"name":157,"slug":158},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":160,"name":161,"slug":162},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]