If you look at the markings I put on the chart above, you can see that the steep rise in prices since January (green arrows), dipped a little lower last month (red arrow).
That dip is more of a seasonal adjustment than the beginning of another big drop in prices.
Also, if you look at the highest peak on the chart which represents May 2022, you see prices dropped for seven months due to the increase in mortgage rates.
For those who have been worried about a housing crash, that was probably it.
From December 2022 until the present (green arrows), we have seen a recovery in home prices.
Our hope and expectations are that from here we see more normal pricing ups and downs without the big drop like we saw from December until now.
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