Headlines Don't Tell The Story!
The media has decided that real estate prices are a topic that everyone wants to know about, so the level of noise seems to be at an all time high. The headlines can be alarming, so if you're looking for thoughtful analysis, I offer two resources in my latest blog post - AEI Housing Center's September update and a very thoughtful video update from a real estate economist.
I find this recap from economist Matthew Gardner at Windermere Real Estate to be really helpful in cutting through the hype and headlines. Yes, home prices have started to tick down nationwide, but he looks at the overall market fundamentals to project what we will see going forward. Spoiler - rising rates have dampened demand, but there are also relatively fewer sellers, meaning that supply and demand will maintain enough balance to prevent a significant collapse of housing prices.
The Housing Center at the American Enterprise Institute (AEI) provides the analysis and data that a lot of news sources use when they write those headlines, so I offer their full report here, for you curious folks who want to get into the details.