Have Home Values Hit Bottom?

Listen to the audio version of this post!
Whether you’re already a homeowner or looking to become one, the recent headlines about home prices may have left you with more questions than answers. News stories are discussing the potential for home prices to fall, raising concerns of a repeat of the 2008 housing market crash. With the current economic climate, it is important to stay informed and understand the potential implications of the housing market on your finances.
Many people are wondering how much home prices will decline in light of recent headlines. However, experts are not predicting a dramatic decrease in prices. In fact, the latest data suggests that the largest portion of month-over-month price depreciation may already be in the past, and even those numbers were not significant on a national level. Rather than asking how far prices will drop, the question now becomes: have home values reached their lowest point?
Let’s examine the most recent data from several reliable industry sources (see chart below): This data provides us with a comprehensive overview of the current state of the industry and can help us make informed decisions.
The chart above provides an insightful look at the most recent reports from Case-Shiller, the Federal Housing Finance Agency (FHFA), Black Knight, and CoreLogic. It reveals how, on a national level, home values have fluctuated month-over-month since January 2022. November and December figures are yet to be released.
Let’s hone in on what the red numbers tell us. The red numbers represent the change in home values over the last four months that have been reported. When we isolate the last four months, the data reveals that home price depreciation reached its highest point in August.
While this doesn’t guarantee that home price depreciation has reached its lowest point, it does confirm that prices are no longer in a rapid decline, and it may be an indication that the worst is already behind us. As the numbers for November and December are released, we will be able to further validate this national trend and gain a better understanding of the current housing market.
Home prices have been declining month-over-month for the past four months, but there is a strong indication that the worst may be over. If you have any questions about the current state of the local housing market, please don’t hesitate to reach out.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Diane Casey Luong Realtor does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Diane Casey Luong will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Diane Highlighted in Top Agents Magazine
EquityDiane Highlighted in Top Agents Magazine©Top Agent Magazine showcases the top-producing and highly accomplished agents in the real estate industry, offering a comprehensive examination of their careers and presenting a framework for achieving great success....
Equity Enhances Selling Prospects for Homeowners
EquityEquity Enhances Selling Prospects for HomeownersFor homeowners contemplating selling their house, the decision might be challenging due to concerns about potential higher mortgage rates for their next home. In such cases, gaining a comprehensive understanding of...
The Truth About Mortgage Down Payments
Down PaymentsThe Truth About Mortgage Down PaymentsFor prospective first-time homebuyers, saving towards the costs of purchasing a home is often a primary focus. Although, the down payment may be the biggest concern. It is common for one to think 20% down payment is...
Discover the Charms of Central Massachusetts: A Great Place to Call Home
Home PricesDiscover the Charms of Central Massachusetts: A Great Place to Call HomeCentral Massachusetts, nestled in the heart of New England, boasts a unique blend of natural beauty, vibrant communities, and a high quality of life. From its picturesque landscapes to...
About Diane Casey Luong
As an award-winning, full-time Realtor®, Diane is a proven leader among Worcester MA real estate agents, fully committed to you and your property goals.
As a requested speaker, Diane educates audiences on topics such as the purchasing foreclosure properties, nuances of the real estate market from neighborhood to neighborhood, and understanding the ever-changing trends in the real estate industry.
A graduate of the Massachusetts Academy of Real Estate, Diane has brought her expertise in real estate to Worcester, MA, and its surrounding towns.
Quick Links



CONNECT
Diane Casey Luong
Realtor
RE/MAX Vision
25 Union Street
4th Floor
Worcester, MA 01608