Home price depreciation is when the price of current home decreases below the current market value due to many different reasons. Supply and demand pushed prices so high that it affected rental properties to almost double. Such as world events, local environment etc has caused the unbalance in the housing market. Click here to see more on home prices appreciation and depreciation /HOME-PRICE-APPRECIATION-AND-DEPRECIATION---32819---32836---Dr-Phillips-6-23079.html
Inflation plays a vital part in home depreciation. Inflation can only reach a certain point until somethings happen in a negative way in the beginning that goal is to turn into something positive. Well just happened, the interest rates went up 3/4% overnight June 15th 2022.
Something had to happen to curb inflation, now many are expecting home buying slow down a bit in the beginning stages, this is the hurtful stage in this initial process and will not be fun for some time. Ongoing inflationary pressure remains likely to excel interest rates even higher in the months to come. Inflation hurt's purchase power for all, however the first time buyer's will really feel the pain. Click link to see more about inflation /INFLATION---32819---32836---Dr-Phillips-6-22829.html
Home prices in Dr Phillips and all over the nation, home sales has skyrocketed during the past two years and as you can see the graph and history of appreciation for over 120 months straight. Why has this happen? Supply was low and demand is high. The market is looking to take a decelerated pace on this interest rate spike. We are likely to see prices decline after June 2022 but much slower appreciation. Florida remains strong and seemingly more homes are expected to come back on the housing market. This growth will mean more options for shoppers in a good bit, even while the inventory of homes continue to slack in these times.
May look like investors are holding back to a point with hedge funds waiting for the right time to strike.
When it comes to selling your home, please see your trusted real estate advisor Kevin Strawter at 850 496-6412 today or email firstname.lastname@example.org to guide you in the right direction for the sale of your home. Serving Dr Phillips and Central Florida. Click here to know more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html