Oops! Home Prices Didn’t Crash After All

Numerous real estate specialists anticipated a decline in property prices this year during the final quarter of the previous year. Unfortunately, this has caused a loss of confidence among consumers. Due to these expectations, many potential buyers have doubts about the stability of the residential real estate market. The December Consumer Confidence Survey conducted by Fannie Mae provides evidence of this trend. A record number of Americans surveyed in December expressed the belief that home values would decrease over the next year.

On a positive note, home prices did not experience a significant crash and seem to be recovering from the slight decline observed in recent months. As professionals in the real estate industry, it is our responsibility – perhaps even our obligation – to counter this perception in the minds of American consumers.