Home values will most likely continue to grow in most markets, just at a slower pace. It is true that inflation has slowed down the real estate market but it hasn’t become stagnant by any means. ​​​​​​​​
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We have seen two consecutive quarters of negative economic growth, which has been the historical definition of a recession. I would say that we are in the beginning stages of a legitimate recession. Having said that, we very well could see a decline in demand, thus, we expect the rate of appreciation to slow down, there are no indicators pointing to home values dropping. ​​​​​​​​
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To summarize: ​​​​​​​​
◽️There still is a shortage of available homes to purchase. ​​​​​​​​
◽️Inflation has driven the cost of home ownership upwards.​​​​​​​​
◽️The pandemic-era mortgage rates are gone, thus adding pressure to the affordability of purchasing a home.​​​​​​​​
◽️The silver lining here is that there are some great opportunities coming your way. Let’s go! ​​​​​​​​