{"id":7840,"date":"2022-08-30T10:00:07","date_gmt":"2022-08-30T10:00:07","guid":{"rendered":"https:\/\/thezakariagroup.com\/whats-actually-happening-with-home-prices-today\/"},"modified":"2022-08-30T10:00:07","modified_gmt":"2022-08-30T10:00:07","slug":"whats-actually-happening-with-home-prices-today","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/whats-actually-happening-with-home-prices-today\/","title":{"rendered":"What\u2019s Actually Happening with Home Prices Today?"},"content":{"rendered":"<div>\n<p><img decoding=\"async\" width=\"358\" src=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/29125052\/20220830-KCM-Share-549x300.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"What\u2019s Actually Happening with Home Prices Today? | Simplifying The Market\" loading=\"lazy\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" srcset=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/29125052\/20220830-KCM-Share-549x300.jpg 549w, https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/29125052\/20220830-KCM-Share.jpg 750w\" sizes=\"(max-width: 549px) 100vw, 549px\"><\/p>\n<p>One of the biggest questions people are asking right now is: <em>what\u2019s happening with home prices<\/em>? 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.<\/p>\n<p><span id=\"more-47078\"><\/span><\/p>\n<p>Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let\u2019s break down the differences among those terms to help clarify what\u2019s actually happening today.<\/p>\n<ul>\n<li><strong>Appreciation<\/strong> is when home prices <em>increase<\/em>.<\/li>\n<li><strong>Depreciation<\/strong> is when home prices <em>decrease<\/em>.<\/li>\n<li><strong>Deceleration<\/strong> is when home prices <em>continue to appreciate, but at a slower or more moderate pace.<\/em><\/li>\n<\/ul>\n<p>Experts agree that, nationally, what we\u2019re seeing today is <strong>deceleration<\/strong>. That means home prices are appreciating, just not at the record-breaking pace they have over the past year. In 2021, <a href=\"https:\/\/www.corelogic.com\/intelligence\/corelogic-hpi-posted-record-year-over-year-growth-in-2021\/\">data<\/a> from <em>CoreLogic<\/em> tells us home prices <strong>appreciated<\/strong> by an average of 15% nationwide. And earlier this year, that appreciation was upward of 20%. This year, <a href=\"https:\/\/www.simplifyingthemarket.com\/2022\/08\/11\/what-does-the-rest-of-the-year-hold-for-home-prices\/\">experts forecast<\/a> home prices will appreciate at a <strong>decelerated<\/strong> pace of around 10 to 11%, on average.<\/p>\n<p>The graph below uses the <a href=\"https:\/\/www.corelogic.com\/intelligence\/u-s-home-price-insights\/\">latest data<\/a> from <em>CoreLogic<\/em> to help tell the story of how home prices are <strong>decelerating<\/strong>, but not <strong>depreciating<\/strong> so far this year.<\/p>\n<p><a href=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/29125050\/20220830-MEM-Eng.png\"><img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-47079\" src=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/29125050\/20220830-MEM-Eng.png\" alt=\"What\u2019s Actually Happening with Home Prices Today? | Simplifying The Market\" width=\"650\" height=\"488\" srcset=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/29125050\/20220830-MEM-Eng.png 960w, https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2022\/08\/29125050\/20220830-MEM-Eng-400x300.png 400w\" sizes=\"(max-width: 650px) 100vw, 650px\"><\/a><\/p>\n<p>As the green bars show, home prices <strong>appreciated<\/strong> between 19-20% year-over-year from January to March. But over the last few months, the pace of that appreciation has <strong>decelerated<\/strong> to 18%. This means price growth is still climbing compared to last year but at a slower rate.<\/p>\n<p>As the <em>Monthly Mortgage Monitor<\/em> from<em> Black Knight <\/em><a href=\"https:\/\/www.blackknightinc.com\/black-knights-june-2022-mortgage-monitor\/?\">explains<\/a>:<\/p>\n<blockquote>\n<p><em>\u201cAnnual home price growth dropped by nearly two percentage points . . . <\/em>\u2013 <em>the greatest single-month slowdown on record since at least the early 1970s. . . <strong>While June\u2019s 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<\/strong>.\u201d<\/em><\/p>\n<\/blockquote>\n<p>Basically, this means, while moderating, home prices are still far above the norm, and we\u2019d have to see a lot more <strong>deceleration<\/strong> to even fall in line with more typical rates of home price growth. That\u2019s still not home price depreciation.<\/p>\n<p>The big takeaway is home prices haven\u2019t fallen or <strong>depreciated <\/strong>nationwide, they\u2019re just <strong>decelerating<\/strong> or <strong>moderating<\/strong>. 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 <a href=\"https:\/\/www.simplifyingthemarket.com\/2022\/08\/05\/housing-market-forecast-for-the-rest-of-2022-infographic\/\">project<\/a> home prices will net depreciate or fall. They\u2019re all projecting ongoing <strong>appreciation.<\/strong><\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>If you have questions about what\u2019s happening with home prices in our local area, let\u2019s connect.<\/p>\n<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\" rel=\"noopener\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the biggest questions people are asking right now is: what\u2019s happening with home prices? 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. Part of the challenge [&hellip;]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[99,100,102,108],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What\u2019s Actually Happening with Home Prices Today? - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/whats-actually-happening-with-home-prices-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What\u2019s Actually Happening with Home Prices Today? - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"One of the biggest questions people are asking right now is: what\u2019s happening with home prices? 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