Have Home Values Hit Bottom? Are Home Prices Hitting Bottom? Whether you're a current homeowner or planning to buy, recent headlines about home prices can be confusing. Many news reports highlight falling prices, raising concerns about a repeat of the 2008 housing crash. Will Home Prices Continue to Decline? One common question is: how much will home prices decline? Expert forecasters aren't predicting a free fall. The latest data suggests that the largest month-over-month declines nationally may already be behind us. Even those declines were modest. The real question now is: have home values hit bottom? Data from Top Industry Sources This data comes from Case-Shiller, the Federal Housing Finance Agency (FHFA), Black Knight, and CoreLogic. It tracks national month-over-month changes in home values since January 2022. November and December data are still pending. What the Data Shows Focusing on the most recent four months of published data, we see that home price declines peaked in August. While this doesn't guarantee the bottom, it confirms prices aren't in free fall and may indicate the worst is behind us. As November and December figures are released, we'll get further confirmation of this trend. Bottom Line Home prices have shown modest month-over-month declines over the last four months, but evidence suggests the worst may already be behind us. For insights about our local market, let's connect. Explore Financing Options If you're considering buying or refinancing, Galaxy Lending Group offers a range of loan solutions: FHA Loans - Low down payment options for first-time and repeat buyers. VA Loans - Benefits for veterans and active-duty military, including no down payment options. Jumbo Loans - High-value mortgage financing with competitive rates. 203K Renovation Loans - Finance your home purchase and renovations in a single loan. Galaxy Lending Group LLC Tempe Click to Call or Text: (602) 595-1233 This entry has 0 replies Comments are closed.
Are Home Prices Hitting Bottom? Whether you're a current homeowner or planning to buy, recent headlines about home prices can be confusing. Many news reports highlight falling prices, raising concerns about a repeat of the 2008 housing crash. Will Home Prices Continue to Decline? One common question is: how much will home prices decline? Expert forecasters aren't predicting a free fall. The latest data suggests that the largest month-over-month declines nationally may already be behind us. Even those declines were modest. The real question now is: have home values hit bottom? Data from Top Industry Sources This data comes from Case-Shiller, the Federal Housing Finance Agency (FHFA), Black Knight, and CoreLogic. It tracks national month-over-month changes in home values since January 2022. November and December data are still pending. What the Data Shows Focusing on the most recent four months of published data, we see that home price declines peaked in August. While this doesn't guarantee the bottom, it confirms prices aren't in free fall and may indicate the worst is behind us. As November and December figures are released, we'll get further confirmation of this trend. Bottom Line Home prices have shown modest month-over-month declines over the last four months, but evidence suggests the worst may already be behind us. For insights about our local market, let's connect. Explore Financing Options If you're considering buying or refinancing, Galaxy Lending Group offers a range of loan solutions: FHA Loans - Low down payment options for first-time and repeat buyers. VA Loans - Benefits for veterans and active-duty military, including no down payment options. Jumbo Loans - High-value mortgage financing with competitive rates. 203K Renovation Loans - Finance your home purchase and renovations in a single loan.
