If you’re thinking of buying or selling a home, one of the biggest questions you have right now is probably: what’s happening with home prices? And it’s no surprise you don’t have the clarity you need on that topic. Part of the issue is how headlines are talking about prices.
They’re basing their negative news by comparing current stats to the last few years But you can’t compare this year to the ‘unicorn’ years (when home prices reached record highs that were unsustainable) And as prices begin to normalize now, they’re talking about it like it’s a bad thing and making people fear what’s next. But the worst home price declines are already behind us. What we’re starting to see now is the return to more normal home price appreciation.
To help make home price trends easier to understand, let’s focus on what’s typical for the market and omit the last few years since they were anomalies
Let’s start by talking about seasonality in real estate In the housing market, there are predictable ebbs and flows that happen each year Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months approach. Home prices follow along with seasonality because prices appreciate most when something is in high demand. That’s why, before the abnormal years we just experienced, there was a reliable long-term home price trend. The following graph uses data from Case-Shiller to show typical monthly home price movement from 1973 through 2021 (not adjusted, so you can see the seasonality):
Source: Case-Shiller
As the data from the last 48 years shows, at the beginning of the year, home prices grow, but not as much as they do entering the spring and summer markets. That’s because the market is less active in January and February since fewer people move in the cooler months. As the market transitions into the peak homebuying season in the spring, activity ramps up, and home prices go up a lot more in response Then, as fall and winter approach, activity eases again Price growth slows, but still typically appreciates
WhyThisIsSoImportanttoUnderstand
In the coming months, as the housing market moves further into a more predictable seasonal rhythm, you’re going to see even more headlines that either get what’s happening with home prices wrong or, at the very least, are misleading. Those headlines might use a number of price terms, like:
Appreciation: when prices increase
Deceleration of appreciation: when prices continue to appreciate, but at a slower or more moderate pace.
Depreciation: when prices decrease.
They’re going to mistake the slowing home price growth (deceleration of appreciation) that’s typical of market seasonality in the fall and winter and think prices are falling (depreciation)
Don’t let those headlines confuse you or spark fear Instead, remember it’s normal to see a deceleration of appreciation, slowing home price growth, as the months go by.
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Embracing Nature: Elevate Your Backyard Oas
As our lives become increasingly busy and digital, the desire for a tranquil and welcoming outdoor space has grown significantly Backyards are no longer just a patch of grass; they have transformed into extensions of our homes, providing a place to unwind, entertain, and reconnect with nature. Here are the current backyard trends that are revolutionizing outdoor living spaces, creating havens of relaxation, and promoting a deeper connection to the natural world.
Sustainable Landscaping
Sustainable landscaping practices focus on reducing water usage, promoting native plant species, and creating a harmonious ecosystem that benefits local wildlife. Homeowners are opting for drought-resistant plants, rainwater harvesting systems, and permeable paving to minimize their environmental impact while maintaining a lush and inviting outdoor space.
Outdoor Cooking & Dining
The current trend revolves around creating fully functional outdoor kitchens. These culinary havens boast built-in grills, pizza ovens, refrigerators, and even sinks, allowing homeowners to prepare gourmet meals while enjoying the fresh air. To complement these outdoor kitchens, dining areas are getting more attention, featuring cozy seating, ambient lighting, and weather-resistant materials to ensure year-round comfort and enjoyment.
Fire & Water Features
The allure of fire pits, fireplaces, and water features remains as strong as ever. These elements add a touch of magic to any backyard setting, creating mesmerizing focal points and soothing ambiance. Fire features are perfect for cooler evenings, while water features, such as ponds, fountains, or even small cascades, provide a serene soundscape that fosters relaxation and tranquility.
Smart Backyards
Smart backyard systems allow homeowners to control lighting, irrigation, and even outdoor entertainment systems through their smartphones. Automated lighting can set the mood for any occasion, while smart irrigation systems adjust water usage based on weather conditions, saving both resources and money
KeepYour Pets Cool and Safe in the Scorching Summer Heat
Summer is a season filled with sunshine, beach days, and outdoor fun, but it can also bring extreme heat and potential hazards for our beloved pets As the mercury rises, it's essential for pet owners to take extra precautions to ensure the well-being of their furry friends. In this blog, we will explore some helpful tips and guidelines to keep your pets cool, comfortable, and safe during the scorching summer months.
Never Leave Your Pet in a Parked Car
Itcannotbestressedenough:neverleaveyourpetalone in a parked car, even with the windows cracked. The temperatureinsideaparkedcarcansoartodangerous levels within minutes, even on relatively mild days. Heatstrokecanbefatal,andleavingapetinahotcaris bothillegalandcruel
Hydration is Key Grooming
Just like humans, pets need to stay hydrated in hot weather Make sure your pet has access to fresh and clean water at all times, especially when they are outside Considercarryingaportablewaterbowlanda bottle of water for your walks or outdoor adventures. Avoidleavingyourpet'swaterbowlindirectsunlight,as itcanquicklybecometoohottodrink.
Limit Outdoor Activities
Duringpeakhoursofheat,usuallybetweenlatemorning and early evening, try to limit your pet's outdoor activities. The hot pavement or sand can burn their paws, and exposure to direct sunlight can lead to heatstroke Instead, opt for early morning or late eveningwalkswhenthetemperatureiscooler.
Create a Cool Environment
Ensureyourpetshaveacoolandshadedspottoretreat to during the day. Indoors, use fans or air conditioning to keep the temperature comfortable If your pet stays outside,provideashadedareawithproperventilation. Considerusingapet-friendlycoolingmattohelpthem beattheheat.
Be Mindful of Exercise
While it's important for your pet to get regular exercise, intense physical activities should be avoided during the hottest parts of the day Opt for more relaxed playtime and activities that won't overexert your furry companion
Regular grooming is crucial during the summer months, as it helps your pet regulate their body temperature. Brushing your pet to remove loose fur and mats allows for better air circulation, which helps keep them cool However, avoid shaving your pet's fur too short, as their coat provides some protection against the sun ' s rays and can prevent sunburn.
Recognize the Signs of Heatstroke
It's essential to recognize the signs of heatstroke in pets, as this condition can be life-threatening Symptoms may include excessive panting, drooling, weakness, vomiting, and collapse. If you suspect your pet is suffering from heatstroke, seek immediate veterinary attention and move them to a cooler area while waiting for help.
Our pets rely on us to keep them safe and comfortable, especially during the hot summer months. By following these tips and being attentive to your pet's needs, you can ensure they have an enjoyable and safe summer Remember, a little extra care goes a long way in ensuring your furry friend remains happy and healthy throughout the season Stay cool, and enjoy your summer with your beloved pets!
