Home price headlines from last year are still making an impact! If you have questions about how much your home is worth or searching for the perfect home in Metro Atlanta, get in touch! (404) 410-6465 or visit www.completerealtyteam.com/

Home Prices Aren’t Falling Off A Cliff

Some housing analysts predicted a drop in home values in 2023 during the fourth quarter of last year. The media jumped on the estimates and published headlines predicting doom and gloom in the housing market. All of the negative news coverage has caused many individuals to question the strength of the residential real estate market.

If it made you wonder if you should postpone your own plans to relocate, here's what you actually need to know.

Home Prices Never Crashed

Ignore what you read in the headlines. The actual data demonstrates that housing prices were extraordinarily resilient, far outperforming what the media would have you believe. Zillow, Black Knight, and Freddie Mac are three reliable sources that show prices have already recovered after very minor dips nationwide. That's a far cry from the disaster predicted in numerous news headlines.

The losses that did occur were not dramatic, but they were brief. As Nicole Friedman, a Wall Street Journal (WSJ) writer, puts it:

“Home prices aren’t falling anymore. . . The surprisingly quick recovery suggests that the residential real-estate downturn is turning out to be shorter and shallower than many housing economists expected . . .”

Even though some media outlets made a big deal about home values falling, the minor drop is already in the rearview mirror. Essentially, this data demonstrates that property prices are no longer declining, but rather rising.

What Will Happen to Home Prices Next?

Experts agree that home price increases will continue in the coming years and that the market is reverting to normal levels. That means home prices will continue to rise, but at a slower rate than in recent years - which is a good thing.

When home price rise slows, some news outlets will publish stories that lead you to believe prices are falling again. The emergence of such deceptive headlines is already having an effect on how homebuyers feel. The Consumer Confidence Survey from Fannie Mae shows how this influences general opinion. It reveals that 26% of Americans still believe that prices will fall. This shift is startling, especially given that housing prices are rising rather than falling. It demonstrates the continuing influence of the media on popular opinion.

Don't succumb to the negative headlines and become a statistic. Remember that data from a variety of sources reveals that property values are no longer decreasing.

Summing It Up

Despite what the media portrays as doom and gloom, the latest data reveals that housing values are no longer declining. So, don't let the headlines worry you or cause you to postpone your plans. Let's connect so you have a reliable source to break through the noise and tell you what's actually going on in our local Cobb and Metro Atlanta area.

If you want to buy or sell a home in Cobb County or the Atlanta area or just have questions, please don’t hesitate to get in touch with us!

Complete Realty Team
Ken Mandich - REALTOR®
Phone: 404-410-6465
Main Site: www.completerealtyteam.com/
Google Business Info:
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Address: 1642 Powers Ferry RD Unit 150
Marietta, GA 30067
Email: admin@completerealtyteam.com

Brokerage:
ERA Sunrise Realty
David Moody - Broker
Office: 678-781-7400
Email: david.moody@era.com

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