Why do basically one in four people feel like home prices will go down in the next year? This is from a survey from Fannie Mae that says 23% of people feel this way.
Let’s start here: The Media!. They started about a year ago with negative talk and story after story about the sky is falling. The media has created a lot of negative emotions and basic fear. Those concerns along with social media chiming in that home prices are going to crash are still in peoples minds.
Like everything that’s happening in our world today you cannot trust the media or social media. The best place to get real information on the housing market is to investigate what people are saying who specialize in residential real estate.
The short lived price dip in late 2022 have already rebounded to higher than before the media started beating their negative drum.
All the residential housing experts have stated that home prices will end up with a net positive gain this year. In fact Fannie Mae’s updated projection is 6.7% for home price appreciation in 2023.
If you or someone you know is telling you home prices are falling it’s time to switch where you are getting your information. The real experts in housing are saying prices are climbing.
The misleading information about everything these days have an impact on how people feel in general. What a shame. Real information is available to those who are willing to look.