Just because the median home sales price changes, it doesn’t mean home prices are falling. What it means is the mix of homes being sold is being impacted by affordability and current mortgage rates.
What happens to mortgage rates depends on inflation. If inflation cools down, mortgage rates should go down too.
If you’ve put your plans to move on pause because you were worried about home prices crashing, this rebound is good news.
Just because the median price changes, it doesn’t mean home prices are falling.
Actual home values are going up in most markets. The median value reported tomorrow might tell a different story.
If you’re planning to buy a home, knowing the key factors that impact affordability is important so you can make an informed decision.
Local price trends still vary by market but home prices aren’t in a freefall.
Get in touch with us. We would love to learn more about you and how we can help with your real estate needs.
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22700 Salamo Rd
West Linn, OR 97068