Much of the nation (including Greater Philadelphia) has experienced soaring home prices since 2015, and a recent report by CoreLogic suggests that price gains may finally be stabilizing. The report, published by CNBC, indicates that the once-high demand for homes may be cooling down, as the skyrocketing prices may have deterred many would-be buyers. As a result of the decreasing demand, prices are leveling off to more manageable levels.
It’s important to note that while month-over-month gains have been decreasing to stable levels, prices are not actually falling – and are not expected to anytime soon. Month over month price gains have fallen since reaching their peak levels in March 2017. In July, the latest month reported by CoreLogic, home prices from the previous year increased 6.2%.
If you’re interested in selling your home, now just may be the time. Please give us a call at (215) 699-5555 or email us at theoffice@everyhome.com for a complimentary, no-obligation Comparative Market Analysis to determine your home’s worth.