So, what is actually happening with home prices today? Hi, I’m Tanja Odzak, Our East Bay Home and eXp Realty, and this is the question I am most asked about. It seems to be on everyone’s mind who is thinking about selling or buying a home.
Nationally, there is still ongoing home appreciation, even though at the same time sellers are reducing the price of their homes. This leaves buyers and sellers confused about what really is going on in the market. Let’s break down the three terms used in the industry by experts to better clarify what is actually happening today. Appreciation – is when home prices increase. Depreciation – is when home prices decrease. Deceleration – is when home prices continue to appreciate, but at a slower pace. In today’s housing market, experts are saying nationally we are in a market of deceleration, where home prices continue to appreciate, but at a slower pace than previous years. This means we are not seeing the record-breaking appreciation we have seen in 2020 and 2021. According to Corelogic, in 2021 home prices appreciated by an average of 15% nationwide. This year, experts are seeing a decelerated pace of 10-11% appreciation. Of course in certain select markets, you may see declines more drastic. However, each city and even some neighborhoods have their own micromarkets with their own trends. They each rise and fall independent of each other, and can be at different times. Of course as always, it’s best to chat me up so that I can give you specific market updates on home prices in your specific area. Reach out to me, so that my team and I can let you know what is going on locally.
And if you need to Buy AND sell, ask me about my tiered home selling plans where you get to pick which real estate services you want and the fee you pay. Most of them offer my super duper digital marketing that no one else does in our area. I’m Tanja and I sell houses. I offer simplified and transparent choices!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
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