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HOME PRICE APPRECIATION AND DEPRECIATION | 32819 | 32836 | Dr Phillips

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HOME PRICE APPRECIATION AND DEPRECIATION

Home price appreciation and depreciation are good and bad words.  Let's define appreciation, appreciation is when home prices increase and depreciation is when home prices decrease. Deceleration is when home prices continue to appreciate, however at a much slower pace. Click here to see more on home price depreciation /HOME-PRICE-DEPRECIATION---32819---32836---Dr-Phillips-6-22735.html

Click hereto see more on home price appreciation /HOME-APPRECIATION-IN-CENTRAL-FLORIDA---32819---32836---Central-Florida-6-22323.html

Since the pandemic started, home values appreciated and did not slow down for 2.5 years and home values nearly doubled. Many refinanced while interest rates were low in this two year period. Since the interest rates increased in June and July 2022, the housing market has slowed down significantly. To this day the Fed's are still trying to figure out on how to tame the housing market.

What is happening now as of August, the to interest rate hikes decelerated the home appreciation. Sellers are finding that homes are taking longer to sell. 

APPRECIATION

Nationwide the appreciation in 2021 exceeded 6% compared to 2022. Also this was greater than the pre-pandemic norm which typically about 3.8%. This goes to show in 2021 was an anomaly in the housing market spurred by more buyers than homes for sale. This year 2022 home prices started to decelerate right after the June/July 2022 interest rate spike well over the past two years. the current forecast reports on average and nation wide home process will still appreciate almost 10% in 2022. Many may say why? The current housing supply is growing as well as new construction because this gives the builder time complete more homes as their inventory grows. In general look for prices continue to moderately increase in some parts of the nation. 

Dr Phillips

Currently August 30th 2022 in the MLS as charts depicts, Dr Phillips has 92 homes on the market and average days on the market reported in April, May and June were averaged six days on the market priced between 385k and 399k. July reported 14 days on the market priced at 379k. January 2022 reported and average 15 days on the market reported.  April 2021 averaged 25 days on the market and as we migrated deeper into the pandemic stages days on the market reported from 16 to 6 days. If you are deciding to make a move, don't expect a drastic price drop, but just at a moderate pace if any. Builders are offering more incentives on new construction homes. Contact your trusted advisor and professional realtor Kevin Strawter today at 850 496-6412. Click here to know more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html


  • HOME PRICE APPRECIATION AND DEPRECIATION | 32819 | 32836 | Dr Phillips
  • HOME PRICE APPRECIATION AND DEPRECIATION | 32819 | 32836 | Dr Phillips
  • HOME PRICE APPRECIATION AND DEPRECIATION | 32819 | 32836 | Dr Phillips

All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: Stellar MLS (updated 10/3/22 4:17 AM) |
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