Home Prices Declining……. A Little October 26, 2022

The most recent report from the Federal Housing Finance Agency (FHFA) shows that from July to August 2022 prices fell just under 1.0%.  So are home prices declining, yes.  And it is anticipated they will continue to do so for the rest of this year and probaby through the winter months.

However, it is worth noting that year over year numbers are showing homes are way up.  From August 2021 to August 2022 the same report shows that homes are up 12.0%.  It is going to take a long time for homes prices to come back down to anything close to pre-Covid numbers.  And most experts agree they never will.