So, get this – Fannie Mae just released some fresh data, and guess what? It says that around 23% of Americans believe that home prices are gonna drop in the next year. But here's the million-dollar question: why do you think nearly 1 in 4 people feels that way?

You know, there's been a whole bunch of negative buzz going around about home prices lately. Like, since the end of 2022, the media has been going on and on about the possibility of prices suddenly dropping. And because of that, a lot of people are getting all worried and it's still sticking around. Maybe you've even heard some folks in your own world talking about how they're concerned about home prices or seen some of those influencers on social media saying prices are gonna take a nosedive.

If you're one of those folks who believe that prices will plummet, let me ask you something. When it comes to getting accurate information, what do you think is more dependable: those attention-grabbing headlines and social media posts that are purely clickbait, or consulting a reliable expert who knows the ins and outs of the housing market?

Well, it's actually pretty straightforward. Just trust the experts who know all about buying and selling homes. They're the ones who specialize in residential real estate, after all.

I've got some fresh data for you that you can absolutely rely on. According to the experts in the housing market, prices did take a little dip towards the end of last year, but hey, don't worry! That was just a blip on the radar. The latest data actually shows that prices have already bounced back this year, recovering from that slight decline we saw in 2022. So, things are looking up in the housing market!

Guess what? It's not just Fannie Mae saying this, but experts from all corners of the industry are showing the same thing in their data. That's why there are so many forecasts now predicting that home prices will actually go up this year, not down. And to back it up, check out the graph below with the latest forecasts from different organizations. It's pretty convincing, isn't it?

Just a few weeks ago, the Fannie Mae forecast predicted that home prices would increase by 3.9% in 2023. But in the latest forecast, they bumped it up to a whopping 6.7% for the year! Can you believe it? This shows just how confident the experts are that home prices will definitely go up this year. Pretty exciting, right?

So, if you think that homes are getting cheaper, it might be a good idea to listen to what the experts are saying instead. And guess what? They're actually saying that home prices are going up, not down.

Bottom Line

There's been a bunch of false info going around about home prices lately, and it's really messing with people's perception of the housing market. But here's the thing: don't just swallow everything you hear or read. It's important to take everything with a grain of salt and do your own research.

If you're looking for reliable information, just ask the real estate experts. They've got the data that proves home prices are headed in the right direction and will end the year on a positive note. If you want to know what's going on in our local area, let's have a chat!