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Home Prices | Barbara's Corner Blog

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 ...

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