[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$frgh7m6j9sm9l":3,"$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},61286,"the-real-story-behind-whats-happening-with-home-prices","The Real Story Behind What’s Happening with Home Prices","\u003Cp>If you’re wondering what’s going on with home prices lately, you’re definitely not the only one.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240910\u002F20240911-the-real-story-behind-whats-happening-with-home-prices-original.png","\u003Cp>If you’re wondering what’s going on with \u003Ca href=\"\u002F2024\u002F07\u002F29\u002Fare-home-prices-going-to-come-down\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">home prices\u003C\u002Fa> lately, you’re definitely not the only one. With so much information out there, it can be hard to figure out your next move.\u003C\u002Fp>\u003Cp>As a buyer, you might be worried about paying more than you should. And if you're thinking of selling, you might be concerned about not getting the price you're aiming for. \u003C\u002Fp>\u003Cp>So, here's a quick breakdown to help clear things up and show you what’s really happening with prices—whether you're thinking about \u003Ca href=\"\u002F2024\u002F08\u002F16\u002F3-reasons-to-move-in-todays-shifting-market\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">buying or selling\u003C\u002Fa>. \u003C\u002Fp>\u003Ch4>\u003Cstrong>Home Price Growth Is Slowing, but Prices Aren’t Falling Nationally\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Throughout the country, home price appreciation is moderating. What that means is, prices are still going up, but they're not rising as quickly as they were in recent years. The graph below uses \u003Ca href=\"https:\u002F\u002Fwww.spglobal.com\u002Fspdji\u002Fen\u002Findex-announcements\u002Farticle\u002Fsp-corelogic-case-shiller-index-hits-new-all-time-high-for-june-2024\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">data\u003C\u002Fa> from \u003Cem>Case-Shiller\u003C\u002Fem> to make the shift from 2023 to 2024 clear:\u003C\u002Fp>\u003Cp>\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240910\u002F20240911-home-price-appreciation-is-moderating-original.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240910\u002F20240911-home-price-appreciation-is-moderating-original.png\" alt=\"No Caption Received\">\u003C\u002Fa>But rest assured, this doesn't mean home prices are falling. In fact, all the bars in this graph show price growth. So, while you might hear talk of prices cooling, what that really means is they're not climbing as fast as they were when they skyrocketed just a few years ago.\u003C\u002Fp>\u003Ch4>\u003Cstrong>What’s Next for Home Prices? It’s All About Supply and Demand\u003C\u002Fstrong> \u003C\u002Fh4>\u003Cp>You might be curious where prices will go from here. The answer depends on supply and demand, and it’s going to vary by local market.\u003C\u002Fp>\u003Cp>Nationally, the number of homes for sale is \u003Ca href=\"\u002F2024\u002F08\u002F23\u002Fhow-growing-inventory-benefits-todays-buyers-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">going up\u003C\u002Fa>, but there still aren’t enough of them to meet today’s buyer demand. That’s keeping upward pressure on prices – even though recent inventory growth has caused that home price appreciation to slow. Danielle Hale, Chief Economist at \u003Cem>Realtor.com\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002Fcase-shiller-home-prices-june-2024\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">said\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“. . . today’s low but quickly improving for-sale inventory has ushered in more market balance than would otherwise be expected . . . \u003C\u002Fem>\u003Cstrong>\u003Cem>This should help home prices maintain a slower pace of growth.\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>” \u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>And here’s one other thing you may not have considered that could play a role in where prices go from here. Since experts say \u003Ca href=\"\u002F2024\u002F08\u002F19\u002Fhow-mortgage-rate-changes-impact-your-homebuying-power\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">mortgage rates\u003C\u002Fa> should continue to decline, it’s likely more buyers will re-enter the market in the months ahead. If demand picks back up, that could make prices climb a bit further.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Why You Should Work with a Local Real Estate Agent\u003C\u002Fstrong> \u003C\u002Fh4>\u003Cp>While national trends give a big-picture view, real estate is always local – especially when it comes to prices. What's happening in your neighborhood might be different from the national average based on what supply and demand look like in your market. That’s why it's crucial to get local insights from a knowledgeable real estate agent.\u003C\u002Fp>\u003Cp> As your go-to source for everything related to home prices, a local agent can provide the most current data and trends specific to your area.\u003C\u002Fp>\u003Cp>So, if you’re \u003Ca href=\"\u002F2024\u002F09\u002F03\u002Fshould-you-sell-now-the-lifestyle-factors-that-could-tip-the-scale\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">planning to sell\u003C\u002Fa>, they can help you \u003Ca href=\"\u002F2024\u002F08\u002F21\u002Fthe-number-one-mistake-sellers-are-making-overpricing-their-house\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">price your house\u003C\u002Fa> accurately. And when you’re ready to buy, they can find the right home that fits your budget and your needs.\u003C\u002Fp>","\u003Cp>Home prices are still rising, just not as quickly as before. Whether you’re thinking about buying, selling, or just curious about what your house is worth, \u003Ca href=\"\u002F2024\u002F08\u002F20\u002Fhow-to-choose-a-great-local-real-estate-agent\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">let’s connect\u003C\u002Fa> so you have the personalized guidance you need.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240910\u002F20240911-home-price-appreciation-is-moderating-original.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","2024-09-11T10:30:00Z","2024-09-11T10:30:05Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},60807,"why-pre-approval-should-be-at-the-top-of-your-homebuying-to-do-list","Why Pre-Approval Should Be at the Top of Your Homebuying To-Do List","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240904\u002F20240910-Why-Pre-Approval-Should-Be-at-the-Top-of-Your-Homebuying-To-Do-List-original.png","2024-09-10T10:30:00Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},61424,"what-to-know-about-closing-costs","What To Know About Closing Costs","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240911\u002F20240912-what-to-know-about-closing-costs-original.png","2024-09-12T10:30:00Z",{"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"]