Have Home Values Hit Rock Bottom?

By Buying, Selling January 25, 2023
Have Home Values Hit Rock Bottom. Also there is a house in the picture on a scale.

Have Home Values Hit Rock Bottom?

Have home values hit rock bottom? It’s a question on many homeowners and potential buyers minds. While experts disagree on the answer, one thing is for certain: now is a good time to buy.

Low mortgage rates make borrowing cheaper.

A strong economy and low inventory mean that demand for housing is high.

This can lead to bidding wars and higher prices.

Acting now can help you avoid paying more in the future.

Additionally, homeownership brings long-term financial benefits such as building equity and potential appreciation in value.

It also provides a sense of pride and belonging.

Have Home Values Hit Rock Bottom?  It Depends on where you live.

But, it’s important to remember that real estate is local.

Research the market in your area and work with a real estate agent.

Consider your personal financial stability and long-term goals.

Don’t base your decision on speculation.

Make an informed decision and take action.

Don’t let uncertainty hold you back from achieving your dream of homeownership.

It’s a big decision, but one that can pay off in the long run.

Take the leap and become a homeowner today.

Have Home Values Hit Rock Bottom? Signs that may give us an answer:

But you still may be thinking “Rob, Have Home Values Hit Rock Bottom?”  How much will home prices decline? This is the question everyone is wondering.  But what you may not realize is expert forecasters aren’t calling for a free fall in prices. In fact, if you look at the latest data, there’s a case to be made that the biggest portion of month-over-month price depreciation nationally may already be behind us – and even those numbers weren’t significant declines on the national level. Instead of how far will they drop, the question becomes: have home values hit bottom?

Have Home Values Hit Rock Bottom Graph. Moreover, it shows how much home prices have changed each month in 2022.

Have Home Values Hit Rock Bottom Graph

The graph above provides an overview of the latest home value reports from various sources such as Case-Shiller, FHFA, Black Knight, and CoreLogic. It depicts the month-over-month changes in home values since January 2022. It should be noted that the data for November and December has yet to be released.

If we examine the red figures closely, we can see that they indicate the change in home values over the last four months that have been published. The data suggests that in all cases, the peak in home price depreciation occurred in August. This is not a guarantee that home values have reached their lowest point, but it does indicate that prices are no longer plummeting and may suggest that the worst is over. Further validation of this national trend can be made once the numbers for November and December are released.

Have Home Values Hit Rock Bottom?  There’s more to it:

It is also important to remember that buying a home is not just a financial decision, it’s also an emotional one. It’s a place to create memories and build a future. And, regardless of what the market does, owning a home will always be a valuable investment in you and your family’s life. Don’t let uncertainty about the market hold you back from achieving your dream of homeownership. Talk to a real estate expert and make an informed decision.

Author:  Rob Johnson, Realtor

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About the Author
Aaron Hunt, Broker Associate

Raised in a family of creative entrepreneurs, Aaron Hunt, Realtor St Petersburg FL, guides his clients with the same irrepressible spirit he was surrounded by as a kid. A Florida transplant, Aaron relates well to the out-of-state buyers, retirees, and vacation home-dwellers who make up the bulk of his clientele. He makes no secret of his love for St. Petersburg and its neighboring cities and towns, and it fuels his passion for helping buyers find their dream home.

Originally from the San Francisco Bay Area, Aaron grew up on the West Coast. His family owns hotels throughout California, Idaho, and Las Vegas, which has shaped Aaron’s eye for detail and his mind for business. In his subsequent career in the spa industry, he established a high bar for client service designed to cater to every discerning taste. From pampering spa customers to tending to real estate clients, Aaron knows how to take care of people.

Realtor St Petersburg FL:  Exceeding Expectations

By limiting the number of clients he represents at any given time, he ensures his undivided attention, absorbing every detail so he can deliver outstanding results and exceed expectations. Aaron co-founded Avalon Group, Realtor St Petersburg FL, in 2014 and grew it into the top-rated real estate team in St. Petersburg and Tampa Bay out of over 10,000 agents. Some of Aaron's greatest strengths are organizing and leading complex projects, making deals happen, and driving profit.

Aaron negotiates deftly for his buyers’ ideal homes.  Furthermore,  he attracts multiple enticing offers for his sellers’ properties.   Aaron prepares meticulously for every transaction, thoroughly covering every detail so clients encounter no surprise. He also relies on his dynamic support team and vast professional network to ease every facet of a transaction.  Additionally he makes sure to fulfill specific client needs. Aaron, a broker associate and Pricing Strategy Advisor, satisfies his competitive streak when everyone wins.

Realtor St Petersburg FL:  Living the Tampa Bay Lifestyle

Aaron has been a proud Florida resident since 2013. There’s always something interesting to do in St. Petersburg, and Aaron relishes it, exploring the city, traveling, hiking, biking, and visiting with friends. He also enjoys trying new restaurants in the region, especially in neighborhoods where he has homes listed. Aaron takes time to give back to his community by supporting St. Pete Pride and other annual festivals throughout the area.