Home Prices are Rebounding
Home Prices Are Rebounding If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. If we take a year-over-year view, home prices did drop some, but that’s because we’re comparing to a ‘unicorn’ year when prices peaked well beyond the norm. To avoid an unfair comparison to that previous peak, we need to look at monthly data. And that tells a very different and much more positive story. While local home price trends still vary by market, here’s what the national data tells us. The graphs below use recent monthly reports from three sources to show the worst home price declines are already behind us, and prices are appreciating nationally. Looking at this monthly view, we can see the past year in the housing...