Don't Panic About Headlines - Home Prices Are Still Rising!

As a Westchester homeowner or potential buyer, you might be concerned by recent headlines about home price drops. But fear not! The Jeffrey Real Estate Team is here to break down what's really happening in the market.

Here's the key takeaway: While asking prices might be seeing some adjustments, actual home sale prices are still on the rise, and this trend is expected to continue for at least the next 5 years.

Why the headlines?

You might see reports about an increase in price reductions. This doesn't necessarily mean home values are plummeting. Instead, it signifies a shift in the market. With rising mortgage rates, buyer demand is moderating, leading sellers to adjust their initial asking prices to better reflect current market conditions.

Thinking of buying?

This is actually good news! More realistic asking prices create a more balanced market, offering you a better chance of securing your dream home at a fair price. You can enter the market with confidence, knowing prices are stabilizing.

Thinking of selling?

Understanding the need to potentially adjust your asking price can lead to a faster sale and a smoother transaction. By working with an experienced realtor like the Jeffrey Real Estate Team, you can ensure your home is priced competitively to attract serious buyers.

The bottom line: The housing market is simply adjusting to a new normal. Home prices are still rising, just at a more moderate pace.

Ready to make a move?

Contact the Jeffrey Real Estate Team today! We have the expertise and local market knowledge to help you navigate the Westchester real estate landscape, whether you're buying or selling.