Chart Shows Prices Stopped Falling in February

In today’s video, we are looking at a chart to take a closer look at what is happening with home prices. I’ve showed this chart before, and this time we are looking at a zoomed in part of it. This piece shows 20 years of housing price data.

Real Estate Prices Have Been Coming Down

We can see that in the last 7 months, home prices are coming down. Last month, we saw prices flatten – which is exactly what we were anticipating. This is the time of year when we typically see inventory coming into the market, but we aren’t really seeing that happen right now. It’s coming in at a slower pace.

But buyers are starting to come out of the woodwork, which is going to flatten out those prices. It’s a simple supply-and-demand situation. This is what we’ve been talking about for a while.

Is It a Good Time to Buy a House? Yes!

Of course, 1 month doesn’t make a trend. We’ll wait and see what happens next month. But it’s nice to see it flattening out.

What does it mean: for all the buyers out there who are thinking that a crash is coming… stop waiting. It is not coming. If you don’t think that now is a good time to buy a house, look at these numbers and reconsider your position.

If you need help finding the right financing solution, then I’m always here to assist. Reach out to me here at Franklin Loan Center.