Depreciation versus Deceleration in the housing market, what is the difference?
Hi, I’m Tanja Odzak, eXp Realty, and I help people sell and buy homes here in the East Bay.
As a homeowner looking to sell or a buyer wanting to purchase, it is important to understand these two different concepts and how they relate to today’s housing market. First, let’s talk about Depreciation. This is the gradual decrease in the value of property over time. Usually, this is due to aging, wear and tear, and changes in the surrounding neighborhood bringing the home value down. Depreciation primarily affects an individual’s property. Deceleration in the housing market refers to a slowdown in the growth of property prices or a decline in demand for homes in the broader market. Typically, we see this with external factors such as economic downturns or higher mortgage rates. Deceleration affects the housing market as a whole and impacts both buyers and sellers. With today’s current market conditions of higher mortgage rates affecting affordability, we are seeing deceleration in the market. This means home prices are continuing to increase but at a much slower rate than in the last few years.
If you would like to know more about what is happening in our market, call me today! I’m happy to go over your local market data and help you consider your next move.
And if you need to sell a home, ask me about my selling plans.. Choose Silver, Gold, or Platinum- Pick your Plan and Pick your Price. Hire me to use my digital marketing to sell your home– where I crush Big Box Real Estate websites by getting your home tens of thousands views, and not just a couple thousand. I’m Tanja and I sell homes. I offer you 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.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?
Click here—> I WANT TO GAIN ACCESS TO THE *HOME BUYER* SEMINAR NOW
Click here—> I WANT TO GAIN ACCESS TO THE *HOME SELLER* SEMINAR NOW