Hello…this is Bo Kauffmann of Remax in Winnipeg, with your real estate news for… Thursday, April 20th, 2023…
Today is National 420 Day, Volunteer Recog. Day and Nat. Cheddar Fries Day
You may be wondering where the housing market will go from here as it continues to evolve. You've probably heard something about a price crash on the horizon in the news or on social media.
According to a recent Zonda survey, 53% of millennials are still renting because they are waiting for property prices to fall. But here's the thing: according to the most current data, housing prices appear to have bottomed out and are now on the upswing. CoreLogic's Chief Economist, Selma Hepp, reports:
"U.S. home prices rose by 0.8% in February... indicating that prices in most markets have already bottomed out."
So, should you hold off on purchasing a property till prices fall? If you consider what the experts say, you probably shouldn't. According to the data, prices are rising rather than falling across much of the country.
According to the most recent Home Price Expectation Survey data, experts predict that home prices will grow slowly and revert to more normal levels of appreciation after 2023.
Working with a local real estate professional who can provide you with the most up-to-date information and expert advice is the best approach to understand what house values are doing in your region.
Thinking of buying? Call me right now to set up a free home buyer consultation, either in person or via zoom. 204-333-2202