{"id":4339,"date":"2023-11-02T10:30:00","date_gmt":"2023-11-02T10:30:00","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/11\/02\/dont-believe-everything-you-read-about-home-prices\/"},"modified":"2023-11-02T10:30:00","modified_gmt":"2023-11-02T10:30:00","slug":"dont-believe-everything-you-read-about-home-prices","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/11\/02\/dont-believe-everything-you-read-about-home-prices\/","title":{"rendered":"Don\u2019t Believe Everything You Read About Home Prices"},"content":{"rendered":"

\n

$\"Don\u2019t$ \n

According to the latest data from Fannie Mae<\/em><\/a>, 23% of Americans still think home prices<\/a> will go down over the next twelve months. But why do roughly 1 in 4 people feel that way?<\/p>\n

It has a lot to do with all the negative talk about home prices over the past year. Since late 2022, the media has created a lot of fear about a price crash<\/a> and those concerns are still lingering. You may be hearing people in your own life saying they\u2019re worried about home prices or see on social media that some influencers are saying prices are going to come tumbling down.<\/p>\n

If you\u2019re someone who still thinks prices are going to fall, ask yourself this: Which is a more reliable place to get your information \u2013 clickbait headlines and social media or a trusted expert on the housing market? <\/em><\/p>\n

The answer is simple. Listen to the professionals who specialize in residential real estate.<\/strong><\/p>\n

Here\u2019s the latest data you can actually trust. Housing market experts acknowledge that nationally, prices did dip down slightly late last year, but that was short-lived. Data<\/a> shows prices have already rebounded<\/a> this year after that slight decline in 2022 (see graph below<\/em>):<\/p>\n

<\/a><\/p>\n\n

But it\u2019s not just Fannie Mae<\/em> that\u2019s reporting this bounce back. Experts from across the industry are showing it in their data too. And that\u2019s why so many forecasts now project home prices<\/a> will net positive<\/a> this year \u2013 not negative. The graph below helps prove this point with the latest forecasts from each organization:<\/p>\n

\u00a0 <\/a><\/p>\n\n

What\u2019s worth noting is that, just a few short weeks ago, the Fannie Mae<\/em> forecast<\/a> was for 3.9% appreciation in 2023. In the forecast that just came out, that projection was updated from 3.9% to 6.7% for the year. This increase goes to show just how confident experts are that home prices will net positive this year.<\/p>\n

So, if you believe home prices are falling, it may be time to get your insights from the experts instead \u2013 and they\u2019re saying prices aren\u2019t falling, they\u2019re climbing.<\/strong><\/p>\n

Bottom Line<\/h3>\n
There\u2019s been a lot of misleading information about home prices over the past year. And that\u2019s still having an impact on how people are feeling about the housing market today. But it\u2019s best not to believe everything you hear or read.<\/p>\n
\u00a0<\/p>\n
If you want information you can trust, turn to the real estate experts. Their data shows home prices are on the way back up and will net positive for the year. If you have questions about what\u2019s happening in your area, connect with a local real estate agent.\u00a0<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months. But why do roughly 1 in 4 people feel that way? It has a lot to do with all the negative talk about home prices over the past year. Since late 2022, […]<\/p>\n","protected":false},"author":1,"featured_media":4340,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-4339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t