Hearing talk about home prices falling? That may leave you worried about whether your house is losing value. But here's what you need to know. While some local markets have seen small price dips this year, home prices are not falling nationally. So, don't let the headlines scare you.
The vast majority of the country is actually seeing prices rise.
While that may feel surprising after the headlines you've seen, the map below uses year-over-year data from the Federal Housing Finance Agency (FHFA) to make that clear:
November brought a shift in the Bend real estate market: strong buyer interest paired with a significant drop in new listings. Pending sales saw a sizable jump from one year ago, even though closed sales held flat and overall pricing trended slightly lower. With fewer homes hitting the market, buyers had to act quickly on the most desirable properties, while sellers benefited from motivated purchasers—even if final sale prices continued to come in below original asking.
Whether it's at a family gathering, your company party, or catching up with friends over the holidays, the housing market always finds its way into the conversation.
Here are the top three questions on a lot of people's minds this season, and straightforward answers to help you feel more confident about the market.
Yes, more than you could a year or two ago.
The number of homes for sale has been rising over the past few years. According to data from Realtor.com, there have been more than one million homes on the market for six straight months, something that hasn't happened since 2019 (see graph below):