“Broad-based Slowdown for Home Prices”
That is a headline you might have seen over the past weekend. And though it is true, we must understand the story behind the headline. Case Shiller
reports on the year-over-year difference in home values. Their latest report
revealed that the rate of appreciation has slowed – not that prices are falling!!
Here is exactly what they said:
“The 20-City Composite gained 4.9% year-over-year, compared to 5.6% in August.”
Prices are still up this month over last year’s values (4.9%) just not as much as they were last month (5.6%).
Home Prices are NOT Falling.
As a matter of fact, the latest Home Price Expectation Survey
(a survey of a nationwide panel of over one hundred economists, real estate experts and investment & market strategists) showed that home prices will continue to appreciate for the next several years.
Both first time buyers and families thinking of moving-up to their dream home can be assured that their investment in their new home makes sense.