All this data is quite contrarian to what has been reported and talked about in the media. Unfortunately, there is a lot of talk about housing bubbles, crashes, and predictions of 20% drops in pricing. We’re just not seeing this here. Year over year, home prices were up in 2022 and they are heading upwards in 2023 as well. There was a short period of time from July of 2022 to the end of 2022 where home prices did decline slightly, but it barely registered statistically from FHFA. When you take a look at Case Shiller it was less than a 3% decline which is not much of a decline from such a huge increase previously.
As inflation continues to decline, it will push interest rates lower which will exacerbate home price appreciation going forward.