What Is Really Going on with Home Prices Right Now?
What's happening with housing prices is one of the most frequent queries at the moment. While news stories frequently mention price increases, some house sellers are simultaneously lowering their asking prices. That can be perplexing and makes it more challenging to understand. The difficulty in understanding what experts are saying when their words seem similar is one aspect of the problem. To better explain what is happening right now, let's dissect the distinctions between those concepts. When home prices rise, this is called appreciation . When home prices drop, this is called depreciation . When home price increases slow down or become more gradual, this is known as a deceleration . Experts concur that the current state of the nation is one of deceleration. As a result, although not at the record-breaking rate they have over the past year, home prices are rising. According to CoreLogic data, home prices nationwide increased by an average of 15% in 2021. And that increase...