Don’t Believe Everything You Read About Home Prices
Recent Fannie Mae data reveals that 23% of Americans anticipate a decline in home prices over the next year. What’s behind this belief shared by about one in every four people?
Much of this sentiment can be traced back to pervasive pessimism surrounding home prices throughout the past year. Media reports since late 2022 have stoked fears of a market crash, and these anxieties persist. It’s common to hear concerns about falling home prices from people around you or to encounter such predictions from influencers on social media.
If you’re among those who expect a drop in home prices, consider your sources: Are sensational headlines and social media posts more reliable than insights from housing market experts?
The answer is clear: Trust the professionals in residential real estate.
Here’s the latest, trustworthy data. While there was a minor dip in home prices late last year, it was a brief occurrence. Current data indicates a rebound in prices this year following the modest decline in 2022 (refer to the accompanying graph):
Moreover, it’s not just Fannie Mae observing this recovery. Industry-wide data corroborates this trend. Consequently, many current forecasts predict a net gain in home prices this year, as illustrated in the graph below:
Moreover, it’s not just Fannie Mae observing this recovery. Industry-wide data corroborates this trend. Consequently, many current forecasts predict a net gain in home prices this year, as illustrated in the graph below:
Interestingly, Fannie Mae recently revised its 2023 home price appreciation forecast from 3.9% to 6.7%, reflecting growing confidence among experts that home prices will indeed experience a net increase this year.
If you’re under the impression that home prices are falling, it might be time to realign your sources and listen to the experts, who assert that prices are, in fact, rising.
Bottom Line
The past year has seen a proliferation of misleading narratives about home prices, impacting public perception of the housing market. However, it’s crucial to approach such information with skepticism.
For reliable insights, consult the real estate professionals at Countryside Homes NJ and RE/MAX Select. Our data indicates a resurgence in home prices, projecting a positive trend for the year. If you have questions about local market trends, feel free to reach out for a discussion.
Client Testimonials for Countryside Homes NJ
At Countryside Homes NJ and RE/MAX Select, we pride ourselves on delivering exceptional service to our clients. But don’t just take our word for it—read what our satisfied customers have to say. From first-time homebuyers to seasoned real estate investors and new home builders, our clients appreciate our dedication, expertise, and commitment to their success. Here are some of their stories.
Collaborating with Keith LaBrunda and Heather Montalbano from Countryside Homes NJ and RE/MAX Select streamlined the home-buying process for me. They were attentive to my needs and preferences, ensuring they understood exactly what I was seeking in a home and what was within my financial comfort zone. Keith and Heather provided invaluable assistance during the offer stage, sharing insightful details that enabled me to place a successful bid on my desired property. They recommended associates to assist me with securing a mortgage, conducting home inspections, and acquiring homeowner's insurance. Post-purchase, they continued to be a resource, suggesting local companies to contact for internet, water, waste management, oil, and other essential services. The experience of purchasing a home with Keith LaBrunda and Heather Montalbano was seamless and enjoyable.
As first-time homebuyers, the process of finding and purchasing a home felt daunting. But from the moment we reached out to Heather and Keith at Countryside Homes NJ and RE/MAX Select, our worries were put to rest. Their team was incredibly patient, answering all our questions and guiding us through every step. They took the time to understand our needs and preferences, ensuring that we found the perfect home in a neighborhood we love. We were especially impressed by their vast knowledge of the local market and their commitment to ensuring we got the best deal possible. We can't thank them enough for making our dream of homeownership a reality. If you're in the market for a new home, we highly recommend Heather and Keith at Countryside Homes NJ and RE/MAX Select. They truly go above and beyond for their clients!
From the moment we began our home search, Heather at Countryside Homes NJ and RE/MAX Select stood out as the epitome of professionalism and dedication. Her team's in-depth knowledge of the Rockaway Borough area and their unwavering commitment to our needs made our home buying journey not only smooth but truly enjoyable. As new homeowners in Rockaway Borough, NJ, we can confidently say that choosing Heather at Countryside Homes NJ and RE/MAX Select was the best decision we made. Her expertise, patience, and genuine care for our family's needs transformed what could have been a stressful process into a memorable and joyous occasion. We are beyond grateful for her support and would highly recommend her and her team to anyone looking to find their dream home. Thank you for turning our dreams into reality!
Contact a Real Estate Agent
Heather Montalbano
Real Estate Sales Associate
Cell: 973-796-4947
RE/MAX Select
Office: 973-625-0450
Keith LaBrunda
Real Estate Sales Associate
Cell: 973-476-4182
RE/MAX Select
Office: 973-625-0450
RE/MAX Select - Rockaway, NJ
Featured Listings
Countryside Homes NJ
Preferred Partners
For over 20 years, Mark Scocco has been involved in multiple facets of real estate and lending. It’s this diverse experience that you can rely on to help guide you through your mortgage transaction from qualification to closing. Mark will
Colleen Waid, owner of Dazzle by Design Home Staging, believes in the power of good design without the necessity of a hefty price tag. She specializes in creating elegant and stylish rooms by rearranging existing furniture, emphasizing focal points, and
Gwendolyn Olinski, Esq. is the founder of Olinski Law, LLC, a firm that specializes in all matters of real estate law. With a Juris Doctor from Seton Hall University School of Law, she is certified in Mediation, Arbitration, and Negotiation
Denise Damato-Sulzer is a seasoned insurance professional with Select Advantage Insurance Agency, a leading provider of comprehensive insurance solutions. With years of experience in the industry, Denise has honed her expertise in a wide range of insurance products, including home,
Countryside Homes NJ is proud to recommend Ryan Sturzebecker and his company, Alliance Home Inspections, as a preferred partner. Ryan, the owner and principal inspector, is dedicated to delivering top-tier customer service with a focus on helping clients understand the
Bill Crowell is a dedicated and experienced account executive at Land Quest Title, a leading title insurance and settlement services company. With a strong background in real estate and finance, Bill has been instrumental in the company’s growth and success
Countryside Homes NJ
Latest Articles
Current Market Overview Warren County, NJ, continues to exhibit a strong real estate market as of May 2024, characterized by increasing property values and a competitive environment favoring sellers. Key indicators such as the median sold price, the list-to-sold price
Current Market Overview As of May 2024, Sussex County’s real estate market remains vibrant and dynamic, presenting several interesting trends and opportunities for both buyers and sellers. The data reflects a robust seller’s market, characterized by high demand and swiftly
Current Market Overview As of May 2024, Morris County, NJ, is experiencing a robust real estate market, leaning towards a seller’s market across various property types, including single-family homes, condos, townhouses, and apartments. Key Data Points Median Sold Price: There’s
Hey there, future homeowners! With all the buzz about housing affordability, it’s easy to get caught up in the numbers game. Sure, budgeting is crucial, but let’s not forget the real reasons why owning a home is such a big
June is a bustling time in the housing market, with many people looking to buy and sell homes. If you’re planning a move this month, here’s what you need to know to be prepared. If You’re Buying This June June
The past couple of years have been challenging for home buyers due to the limited number of available homes. However, the situation is beginning to improve. This year, the housing market is seeing an increase in available homes. The graph
