What Does This Mean for You?
If you currently own your house, you may be concerned about even the smallest decline in prices. But keep in mind how much home values grew over the last few years. Compared to that growth, any declines we’re seeing nationally are likely to be minimal. Selma Hepp, Chief Economist at CoreLogic, shares:
“. . . while prices continued to fall from November, the rate of decline was lower than that seen in the summer and still adds up to only a 3% cumulative drop in prices since last spring’s peak.”
It’s also important to remember that every local market is different. That’s why it’s essential to lean on the experts at Pearson | Cusack Real Estate Group, if you’re planning to make a move in or out of the greater Los Angeles area this spring.
To understand what’s going on with home prices in our market and how they could impact your goals, connect with Jamie Pearson & Shawn Cusack.