{"id":88,"date":"2024-04-24T14:07:18","date_gmt":"2024-04-24T19:07:18","guid":{"rendered":"https:\/\/twilabertrand.sites.c21.homes\/?p=88"},"modified":"2024-04-24T14:08:10","modified_gmt":"2024-04-24T19:08:10","slug":"what-you-really-need-to-know-about-home-prices","status":"publish","type":"post","link":"https:\/\/twilabertrand.sites.c21.homes\/?p=88","title":{"rendered":"What You Really Need To Know About Home Prices"},"content":{"rendered":"

\"Blog<\/p>\n

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What You Really Need To Know About Home Prices<\/a><\/h2>\n
Home Prices<\/a><\/span><\/div>\n
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Article from Keeping Current Matters<\/div>\n
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According to recent data from\u00a0Fannie Mae<\/em><\/a>, almost 1 in 4 people still think\u00a0home prices<\/a> are going to come down. If you\u2019re one of the people worried about that, here\u2019s what you really need to know about home prices.<\/p>\n

A lot of that fear is probably coming from what you\u2019re hearing in the media or reading online. But here\u2019s the thing to remember. Negative news sells. That means, you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant,\u00a0explains<\/a>:<\/p>\n

\u201cHousing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry.<\/em>\u00a0Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.\u201d<\/em><\/strong><\/p><\/blockquote>\n

Here\u2019s a look at the data to set the record straight.<\/p>\n

Home Prices Rose the Majority of the Past Year<\/strong><\/h4>\n

Case-Shiller<\/em><\/a>\u00a0releases a report\u00a0each month<\/a>\u00a0on the percent of monthly home price changes. If you look at their data from January 2023 through the latest numbers available, here\u2019s what you\u2019d see:<\/p>\n

\"a<\/a><\/p>\n

What do you notice when you look at this graph? It depends on what color you\u2019re more drawn to. If you look at the green, you\u2019ll see home prices rose for the majority of the past year.<\/p>\n

But, if you\u2019re drawn to the red, you may only focus on the two slight declines. This is what a lot of media coverage does. Since negative news sells, drawing attention to these slight dips happens often. But that loses sight of the bigger picture.<\/p>\n

Here\u2019s what this data really says. There\u2019s a lot more green in that graph than red. And even for the two red bars, they\u2019re so slight, they\u2019re practically flat. If you look at the year as a whole, home prices still rose overall.<\/strong><\/p>\n

It\u2019s perfectly normal in the housing market for\u00a0home price growth<\/a>\u00a0to slow down in the winter. That\u2019s because fewer people move during the holidays and at the start of the year, so there\u2019s not as much upward pressure on home prices during that time. That\u2019s why, even the green bars toward the end of the year show smaller price gains.<\/p>\n

The overarching story is that prices went up last year, not down.<\/strong><\/h4>\n

To sum all that up, the source for that data in the graph above,\u00a0Case Shiller,\u00a0<\/em>explains it like this:<\/p>\n

\u201c<\/em>Month-over-month numbers were relatively flat<\/em><\/strong>, . . .\u00a0<\/em>However, the annual growth was more significant<\/em><\/strong>\u00a0for both indices, rising 7.4 percent and 6.6 percent, respectively.\u201d<\/em><\/p><\/blockquote>\n

If one of the expert organizations tracking home price trends says the very slight dips are nothing to worry about, why be concerned? Even\u00a0Case-Shiller<\/em>\u00a0is drawing your attention to how those were virtually flat and how home prices actually grew over the year.<\/p>\n<\/div>\n

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Bottom Line<\/h3>\n

The data shows that, as a whole, home prices rose over the past year. If you have questions about what\u2019s happening with home prices in our area, let’s chat.<\/p>\n

 <\/p>\n

https:\/\/www.zillow.com\/profile\/Twila%20Bertrand<\/strong><\/em><\/a><\/p>\n

 <\/p>\n<\/div>\n

Twila Bertrand, REALTOR<\/strong><\/p>\n

CENTURY 21\u00a0 Cota Realty<\/strong><\/p>\n

1306 N Medford Drive<\/p>\n

Lufkin, Tx 75901<\/p>\n

Representing buyers and sellers with real estate in Lufkin, Huntington, Nacogdoches, and all over East Texas since 2012!<\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

What You Really Need To Know About Home Prices Monday April 22nd, 2024\u00a0Home Prices Article from Keeping Current Matters According to recent data from\u00a0Fannie Mae, almost 1 in 4 people still think\u00a0home prices are going to come down. If you\u2019re one of the people worried about that, here\u2019s what you really need to know about […]<\/p>\n","protected":false},"author":194391,"featured_media":90,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[27,32,28,30,18,23,24,20,17,37,14,21,19,15,12,34],"class_list":["post-88","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-angelina-county-real-estate","tag-building-equity","tag-buying-a-home","tag-homeownership","tag-huntington-agent","tag-huntington-real-estate","tag-local-agent","tag-local-realtor","tag-lufkin-agent","tag-mortgage-facts","tag-real-estate","tag-real-estate-agent","tag-real-estate-lufkin","tag-realtor","tag-texas-real-estate","tag-understanding-value"],"_links":{"self":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts\/88","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/users\/194391"}],"replies":[{"embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=88"}],"version-history":[{"count":1,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts\/88\/revisions"}],"predecessor-version":[{"id":89,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts\/88\/revisions\/89"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/media\/90"}],"wp:attachment":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=88"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=88"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=88"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}