Is the Recent Dip in Home Values Cause for Concern?admin / 0 Comments /
The real estate market has, for the most part, been on a steady incline for the past 5-7 years, in terms of home values. Homeowners have been comfortably seeing the value of their house increase at a fairly consistent rate, recovering from the major decreases in value they saw about 10 years ago.
However, according to data released by Black Knight, the upward trend may be coming to an end, or at least slowing down some. According to an article published by Housing Wire, “Home values fell 0.2% in November, down $580 for the month and marking the first time the market has seen a consecutive three-month decline since early 2012. Now, the average home is down $1,361 in value since August 2018.”
Although the growth rate varies across the United States, overall home values are still higher than they were in 2017 in 99 of the 100 markets. So, many homeowners may still be breathing easy knowing that, over a larger span of time, the value of their home is moving in the right direction.
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