Home Price Growth Decelerated in Q3

October 18, 2022 By: Lexi Malen

As reports and market summaries like the below start to track the recent data it is soon to be “official” that the market has turned into a buyers’ market.  After a couple years+ of an incredible seller’s market the turn is coming very fast.  Many in the industry would say it has already shifted (I would agree with them) but as reports start to track the data over the last and next 90 days it will become “fact.”  The question that comes to my mind is, will it be as dramatic as the seller’s market was.  How big of price reductions, how much will be offered in concessions, etc.

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Article: Home Price Growth Decelerated in Q3

Source: www.housingwire.com

Article Highlights

• The FNM-HPI found that home price growth was at an annualized rate of 13.2% in Q3 2022, down from 19.1% in the previous quarter.
• “Furthermore, the supply of completed, new single-family homes for sale has begun to rise, suggesting that homebuilders may also need to begin offering greater price concessions to move inventory. We expect these trends to continue in the coming months,” Duncan said.

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