What’s Really Happening with Home Prices?

Recent headlines might have you thinking home prices are dropping, but there’s more to the story! While the median asking price is down compared to last year, home values are still rising. Let’s break it down so you can stay informed without the confusion.

The dip in median price is largely due to smaller homes on the market right now. The median price only reflects the middle point of all homes for sale, and more affordable, smaller homes are pulling that number down. But that doesn’t mean home values are falling!

In fact, price per square foot is still increasing, showing that home values are growing. As Danielle Hale, Chief Economist at Realtor.com, says, the rise of smaller homes on the market is lowering the median price, but per-square-foot prices continue to grow. 📈

Even though national trends show a positive rise in home values, local markets can vary. Krista Klause and her team are here to help you make sense of what’s happening in your specific area. 🏘️👩‍💼

Bottom Line: The drop in median price isn’t the same as home values declining. Price per square foot is a better measure of value, and it’s going up! If you have questions about your local market, Krista Klause and her team can guide you with the latest insights. 😊📊

Let’s chat and see what’s happening in your neighborhood! ✨