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Home Prices | Barbara's Corner Blog

Thursday, July 20, 2023   /   by Barbara Oleska

Home Prices Are Rebounding

If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. If we take a year-over-year view, home prices did drop some, but that’s because we’re comparing to a ‘unicorn’ year when prices peaked well beyond the norm.
To avoid an unfair comparison to that previous peak, we need to look at monthly data. And that tells a very different and much more positive story. While local home price trends still vary by market, here’s what the national data tells us.
The graphs below use recent monthly reports from three sources to show the worst home price declines are already behind us, and prices are appreciating nationally.
 
Looking at this monthly view, we can see the past year in the hous. ...

  florida real estate, seller market, housing market, home prices

Thursday, July 6, 2023   /   by Barbara Oleska

Today's Housing Inventory Is A Sweet Spot

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.

According to a recent report from Realtor: 

 “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below):


It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so . ...

  residential real estate, seller market, realtor, home prices, housing inventory

Thursday, January 12, 2023   /   by Barbara Oleska

Housing Outlook For 2023

Well, here we are in 2023! I hope your year has gotten off to a happy and healthy start!
Everybody is wondering where the real estate market is going for 2023. Below is the Housing Outlook For 2023, provided by Brian S Wesbury, Chief Economist Of First Trust Investments, along with Robert Stein, Deputy Chief Economist, that I thought you might find interesting. I am always here to answer any questions you might have whether it's about buying, selling, or investing in properties.








The Housing Outlook for 2023
















The housing sector was a huge and early beneficiary of the super-loose monetary policy of 2020-21. But, once the Fed started tightening, housing took the lead downward, as well.  This isn’t a repeat of the 2006-11 housing bust, but it will drag on.  Don’t expect any real recovery in housing until at least late 2023 or early 2024.  Home sales and prices will continue to drag in 2 ...

  florida real estate, boca raton real estate, residential real estate, realtor, housing market, home prices, mortgage rates

Thursday, December 15, 2022   /   by Barbara Oleska

What Every Seller Should Know About Home Prices

 
If you’re trying to decide whether or not to sell your house, recent headlines about home prices may be top of mind. And if those stories have you wondering what that means for your home’s value, here’s what you really need to know.
What’s Really Happening with Home Prices?
It’s possible you’ve seen news stories mentioning a drop in home values or home price depreciation, but it’s important to remember those headlines are designed to make a big impression in just a few words. But what headlines aren’t always great at is painting the full picture.
While home prices are down slightly month-over-month in some markets, it’s also true that home values are up nationally on a year-over-year basis. The graph below uses the latest data from S&P Case-Shiller to help tell the story of what’s actually happening in the housing market today:

As the graph shows, it’s true home. ...

  florida real estate, boca raton real estate, boca raton realtor, south florida real estate, south florida realtor, residential real estate, housing market, home price appreciation, home prices

Thursday, June 23, 2022   /   by Barbara Oleska

Home Price Deceleration Doesn’t Mean Home Price Depreciation

I hope you are enjoying your summer! The article below shares national insight for the overall market. Locally, we are seeing a bit of an increase in inventory, which is a relief! Sales are a bit slower, but ANYTHING feels slower after the crazy. Properties are lingering on the market longer (except mine, of course, because I get it DONE!). You've probably heard about many listings reducing (adjusting) their prices. It's not because prices are falling; it's because sellers got ahead of themselves. Pricing ahead of the market is a mistake. You have to be IN the market.
When you hear "bubble", know that this is NOT 2008. Our fundamentals are VERY different coming into this period. Yes, appreciation will slow down, but I really don't think we'll see a downturn in the South Florida market. Too many people are moving here and unless we get a huge wave of inventory, it will still be the game of supply and demand.
A fair amount of the cash has dried up. I can speculate that's becaus ...

  florida real estate, boca raton real estate, boca raton realtor, south florida real estate, south florida realtor, home price appreciation, home prices