{"id":6494,"date":"2026-06-29T10:30:00","date_gmt":"2026-06-29T10:30:00","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2026\/06\/29\/the-1-factor-that-explains-everything-happening-with-home-prices-right-now\/"},"modified":"2026-06-29T10:30:00","modified_gmt":"2026-06-29T10:30:00","slug":"the-1-factor-that-explains-everything-happening-with-home-prices-right-now","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2026\/06\/29\/the-1-factor-that-explains-everything-happening-with-home-prices-right-now\/","title":{"rendered":"The 1 Factor That Explains Everything Happening with Home Prices Right Now"},"content":{"rendered":"\n

$\"The$ \n

You\u2019ve probably heard that home prices are cooling off. And that\u2019s true \u2013 nationally. But zoom in on individual markets<\/a> across the country, and the picture looks completely different depending on where you are.<\/p>\n

Some areas are still seeing solid price growth<\/a>. Others have gone flat. A few have actually dipped slightly negative. So, what\u2019s causing all of that variation?\u00a0<\/strong><\/p>\n

It All Comes Down to Inventory<\/strong><\/h4>\n
Here\u2019s the simple version:<\/p>\n
\n
\n
When there are more homes for sale, buyers have options.<\/p>\n<\/li>\n
\n
More options, means less competition.<\/p>\n<\/li>\n
\n
Less competition means sellers can\u2019t push prices as high.<\/p>\n<\/li>\n<\/ol>\n
On the flip side, when inventory is tight, buyers are competing over a small pool of homes, and that pushes prices up.<\/p>\n
That dynamic is playing out right now in a really visible way across the country.\u00a0<\/p>\n
Markets where inventory has climbed back to, or above, normal pre-pandemic levels are seeing prices flatten or fall slightly. Markets where inventory is still well below those 2019 benchmarks are still seeing prices rise. As Lance Lambert, CEO of ResiClub<\/em>, puts it<\/a>:<\/p>\n
\n
\u201cHome prices are still climbing a little year-over-year in many regions where active inventory remains well below pre-pandemic 2019 levels, such as pockets of the Northeast and Midwest.<\/em><\/p>\n
In contrast, some pockets in states like Texas, Florida, and Colorado \u2014 where active inventory exceeds pre-pandemic 2019 levels by a solid clip \u2014 are seeing modest home price pullbacks or flat pricing.\u201d<\/em><\/p>\n<\/blockquote>\n
The Maps Say It All\u00a0<\/strong><\/h4>\n
Take a look at where inventory stands today compared to 2019. In most places (the states in gray below<\/em>), inventory still falls short of where we were back then. And that\u2019s exactly why prices are climbing, albeit moderately, in the vast majority of states.<\/p>\n
But you\u2019re probably more interested in where prices are falling a bit, since that\u2019s what is making headlines. So, let\u2019s prove out how much inventory affects prices in those spots.<\/p>\n
According<\/a> to Realtor.com<\/em>, 15 states and Washington, D.C. are now back above pre-pandemic inventory levels, and some by a wide margin (see the orange in the map below<\/em>):<\/p>\n
$\"a$ Now, let\u2019s look at the latest Federal Housing Finance Agency<\/em> (FHFA) data<\/a> to see what\u2019s happened to home prices in those same states over the past year (again,<\/em> you\u2019ll want to focus on the orange in the next map<\/em>).\u00a0<\/p>\n
See how those line up pretty closely with the areas seeing more homes for sale today?<\/p>\n
The overlap isn\u2019t a coincidence. It\u2019s cause and effect.<\/strong>\u00a0<\/p>\n
$\"a$ <\/p>\n
The national average of 1.7% price growth is accurate, but it\u2019s an average of two very different stories happening at the same time \u2013 the few areas experiencing mild declines and the overwhelming majority that are still seeing prices rise<\/a>.<\/p>\n
What This Means If You\u2019re Buying or Selling\u00a0<\/strong><\/h4>\nIf you\u2019re a buyer, the market you\u2019re shopping in matters a lot right now. In places like Texas, Colorado, or Florida, you may have real negotiating power \u2013 more choices, less competition, and sellers who are more motivated to make a deal<\/a>. In tighter markets like much of the Northeast, you\u2019re still likely facing a lot of competition.<\/p>\n
If you\u2019re a seller, pricing strategy<\/a> is everything. In markets where inventory has risen, overpricing is one of the fastest ways to linger on the market and eventually sell for less than you would have with the right price from day one. In markets where inventory is still low, you\u2019re in a strong spot, but getting your price right still matters if you want to attract serious buyers quickly. Either way, that\u2019s where a local real estate agent earns their keep.<\/p>\n
Bottom Line<\/h3>\n
When it comes to prices, where you are matters more than ever right now, and a local real estate agent is the best person to help you make sense of it.<\/p>\n
Reach out to a local real estate agent today and work together to build a plan that fits your market.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
You\u2019ve probably heard that home prices are cooling off. And that\u2019s true \u2013 nationally. But zoom in on individual markets across the country, and the picture looks completely different depending on where you are. Some areas are still seeing solid price growth. Others have gone flat. A few have actually dipped slightly negative. So, what\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":6495,"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-6494","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