Are Home Prices Depreciating or Stabilizing in Today's Market?

Dated: January 9 2023

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Are home prices depreciating or just stabilizing in today’s market?

So, what is actually happening with home prices today? Hi, I’m Melissa Elliott with Elliott Real Estate Professionals, and this is the question everyone is asking. It seems to be on everyone’s mind who is thinking about selling or buying a home. Nationally, there is still ongoing home appreciation, even though at the same time sellers are reducing the price of their homes. This leaves buyers and sellers confused about what really is going on in the market. Let’s break down the three terms used in the industry by experts to better clarify what is actually happening today.

Appreciation - is when home prices increase. Depreciation - is when home prices decrease. Deceleration - is when home prices continue to appreciate, but at a slower pace. In today’s housing market, experts are saying nationally we are in a market of deceleration, where home prices continue to appreciate, but at a slower pace than previous years. This means we are not seeing the record-breaking appreciation we have seen in 2020 and 2021.

According to Corelogic, in 2021 home prices appreciated by an average of 15% nationwide. This year, experts are seeing a decelerated pace of 10-11% appreciation. Of course, in select markets, you may see declines more drastically. But, when we look at what is going on in the country on a national level, the projection from the experts is home prices will not depreciate but continue to appreciate at a moderate level.

Locally in the Raleigh NC Triangle area, we are experiencing a deceleration, which is homes still appreciating but at a slower pace. We have approximately 2 months of inventory active on the market, which is still considered a sellers’ market.

Of course, as always, it is best to connect with your trusted Realtor to get specific market updates on home prices in your area. Please feel free to reach out to us so we can let you know what is going on locally. I’m Melissa Elliott your real estate and community resource. Exceptional Service Outstanding Results!

 If we can assist you in any way, please let us know. Reach out to us at 919-307-7303 or www.TriangleHomesForYou.com or email us at melissa@elliottpros.com or michael@elliottpros.com

For an entire library of informational videos, go to our youtube channel at  https://www.youtube.com/@ElliottRealEstateProfessionals

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Melissa Elliott

Our commitment to World Class Service begins with YOU! Our mission is to ensure a Smooth, Efficient, Exciting, and Positive experience before, during, and after the home buying and selling process. Wh....

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