{"id":9481,"date":"2023-11-22T06:30:00","date_gmt":"2023-11-22T11:30:00","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=9481"},"modified":"2023-11-22T06:30:00","modified_gmt":"2023-11-22T11:30:00","slug":"home-prices-still-growing-just-at-a-more-normal-pace-2","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=9481","title":{"rendered":"Home Prices Still Growing \u2013 Just at a More Normal Pace"},"content":{"rendered":"
\"Home<\/p>\n

If you\u2019re feeling a bit muddy on what\u2019s happening with home prices<\/a>, that\u2019s no surprise. Some people are still saying prices are falling, even though data proves otherwise. Part of that misconception<\/a> is because people are getting their information from unreliable sources. But it\u2019s also coming from some media coverage misrepresenting what the data really shows.<\/p>\n

So, to keep things simple, here\u2019s what you really need to know using real data you can trust.<\/p>\n

Normal Home Price Seasonality Explained <\/strong><\/h4>\n

In the housing market, there are predictable ebbs and flows that happen each year. It\u2019s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months approach.<\/p>\n

Home prices<\/a> follow along with seasonality because prices appreciate most when something is in high demand. That\u2019s why there\u2019s a reliable long-term home price trend. The graph below uses data from\u00a0Case-Shiller<\/em><\/a>\u00a0to show the typical percent change for monthly home price movement from 1973 through 2022 (not\u00a0adjusted<\/a>, so you can see the seasonality):<\/p>\n

\u00a0<\/a><\/p>\n

<\/p>\n

As the data shows, at the beginning of the year, home prices grow, but not as much as they do when entering the spring and summer markets. That\u2019s because the market is less active in January and February since fewer people move in the cooler months. As the market transitions into the peak homebuying season in the spring, activity ramps up, and home prices go up a lot more in response. Then, as fall and winter approach, prices still grow, just at a slower pace as activity eases again.<\/p>\n

This Year, Seasonality Has Returned<\/strong><\/h4>\n

Now, let\u2019s look at how this year compares to that long-term trend (see graph below<\/em>):<\/p>\n

\u00a0<\/strong><\/a><\/p>\n

<\/p>\n

Here\u2019s the latest data for this year from that same source. Just like before, the dark bars are the long-standing trend. The green bars represent what\u2019s happened this year. As you can see, the green bars are beginning to fall in line with what\u2019s normal for the market. That\u2019s a good thing because it\u2019s more sustainable price growth than we\u2019ve seen in recent years.<\/p>\n

In a nutshell, nationally prices aren\u2019t falling, it\u2019s just that price growth is beginning to normalize<\/a>. Moving forward, there\u2019s a chance the media will misrepresent this slowing of home price growth as prices falling. So don\u2019t believe everything you see in the headlines. The data included here gives you the context you need to really understand what\u2019s happening. So, if you see something in the headlines that\u2019s confusing, don\u2019t just take it at face value. Ask a trusted real estate professional for more information.<\/p>\n

Remember, it\u2019s normal to see home price growth slow down as the year goes on. And that definitely doesn\u2019t mean home prices are falling. They\u2019re just rising at a more moderate pace.<\/strong><\/p>\n

Bottom Line<\/h3>\n

Home price appreciation is returning to normal seasonality and that\u2019s a good thing. If you have questions about what\u2019s happening with prices in your local area, connect with a real estate professional.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re feeling a bit muddy on what\u2019s happening with home prices, that\u2019s no surprise. Some people are still saying prices are falling, even though data proves otherwise. Part of that misconception is because people are getting their information from unreliable sources. But it\u2019s also coming from some media coverage misrepresenting what the data really […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-9481","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/9481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9481"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/9481\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}