No, I Do Not Think Home Prices Will Decline In The Next Year


No, I Do Not Think Home Prices Will Decline In The Next Year
By Scott Rogers • August 16, 2021
As stated above, I do not think home prices will decline in the next year. That said, I am completely willing to be wrong. A common question that would be sellers ask me is whether I think home prices will decline in the next year. "I can't believe how much my house would sell for right now -- maybe I should go ahead and sell now -- because home prices might start coming back down soon, right!?" It is hard for me to justify selling your home right now simply because of a concern (or fear) that home prices are going to come back down soon. Yes, it is possible that home prices will decline in the next year, but I think that is unlikely, because... I believe housing (for purchase) has been under built for many years in this area. I believe there are more homeowners or would-be homeowners in the market than there are homes to be owned. Even if lots and lots of homes are being built or being planned, it takes a long time (relatively speaking) for those homes to be planned and built. There are a flurry of showings and often multiple offers on most new listings. So, are things going to slow down soon? It sure doesn't seem like it! I think prices will hold (likely rise) for at least another year -- and quite possibly well beyond that as well! But enough about my opinions -- what do you think? Email me and let me know. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 25, 2024 (unless otherwise noted).
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