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Whether you’re at a party, family get-together, work, or just talking to a neighbor, there’s a good chance you’ll hear people talking about how crazy the real estate market’s been. And you’ll probably hear people’s opinions on whether it’s a good time to buy or sell a house.

But what are they basing their opinion on?

Sometimes it’s just based on what they’ve heard second (or third) hand from a friend or family member. But a lot of times it’s “backed up” by what they’ve read or heard in the news, which is often just from a headline like, “Home Price Growth Is Finally Decelerating—and It’s Just the Start”, which Fortune recently published.

Someone who only read that headline could easily take that as a sign that prices aren’t going to go up as much in 2022, and that’s just the start! So, it’s an easy leap to think that must mean prices may even go down next year. That could easily cause a homeowner to sell in a hurry before prices drop. Or, it could cause a buyer to wait for prices to come down and miss out on a house that would’ve been perfect for them, only to find nothing changed, or (worse!) prices went up even higher.

If you actually read the Fortune article, it doesn’t entirely prove out the headline, or at least how most people would interpret it. In fact, the “deceleration” they refer to in the headline is a 0.3% dip in home prices between September 2020 and September 2021. It went from an all-time high of 19.8% year-over-year gain, down to a 19.5% gain. Okay, to be fair, that is a “start” as they said in the headline…but how much more deceleration should we expect if that’s just the beginning?!

Well, the predictions they cite in the article are all over the place for the next year:

  • Zillow predicts prices will rise 13.6%
  • Goldman Sachs predicts a rise of 13.5%
  • Fannie Mae expects a 7.9% increase
  • Freddie Mac thinks it’ll be a 7% bump up
  • Redfin is predicting price growth will only be 3%
  • CoreLogic sees it slowing to 1.9%
  • And the Mortgage Bankers Association is the only one cited with any amount of a decrease at 2.5%

To sum it up, according to the sources they cite, sure there may very well be a deceleration in prices, but that doesn’t mean prices will fall. Other than one source, they all predict that prices will continue to go up. More than half of them anticipate the growth rate to be higher than average…

…not quite what you may have thought if you just read the headline alone.

The Takeaway:

That’s just one example of a headline that could be misleading and cause you to judge whether it’s a good time for you to buy or sell a house. Much of what you see, hear, or read about the market tends to be too broad to make an informed decision, and the headlines can often be misleading. If you want a true read on the market and advice on whether it makes sense for you to buy or sell, your best bet is to speak to a Realtor® who knows the local market.

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Beautiful sunset tonight.

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Sonja was very knowledgeable and competent in selling our house in Mammoth. She is very personable and answered all of our numerous questions with courtesy, humor, and patience. Despite a greatly slowed real estate market, she sold our house in a reasonable time frame. - Stuart F.

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#nofilter Sunday evening neighborhood stroll. ❤️reflections, water, blue skies and fluffy clouds ☁️ #lovewherewelive ...

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If you have a light fixture you want to keep and take with you to your next home, take it down and replace it before you put your house on the market. You can also leave it up and "exclude" it from the sale within your listing, but it can cause issues if a buyer sees it and wants it. Avoid problems by removing it ahead of time.

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Beautiful day at the village. I love the clouds and like to look for shapes or object -- what do you see?

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Amazing two-bedroom condo next door to Canyon Lodge! Ski all season long in this cozy mountain home!

Properties Link Below:
https://www.destinationmammoth.com/properties/

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Hope everyone is having an amazing time at the Mammoth Trail Fest! If you haven't already make sure to check out this awesome event the rest of the weekend!

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Beautifully updated two-bedroom slope side condo just listed for sale. Check it out!

Link in Bio...

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What does “Months of Supply” tell us about the market?

To break it down simply:

📊Balanced Market = 6 to 7 months of supply
There are a relatively even number of buyers and sellers.

📈Seller’s Market = Fewer than 6 months of supply
There are more buyers than homes for sale, thus sellers hold the upper hand.

📉 Buyer’s Market = More than 7 months of supply
There are more homes for sale than willing and able buyers, thus buyers have more negotiating power.

Have a question about current market trends? Reach out at any time! We’re here to help you decode the lingo and make the most of today’s market 👨‍💻

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SNEAK PEAK! This two-bedroom condo next door to Canyon Lodge will be listed for sale in the next 24 hours!

Check out an early video tour now on our YouTube!

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I love working with awesome realtors like Heidi Vetter! How thoughtful is this?!” @vetter_heidi ...

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If your agent isn't available, don't call a random agent to show you a house you're interested in seeing if you plan on having your agent write an offer if you like the house. Agents don't get paid for simply showing houses, so it's inconsiderate to ask an agent to show you a house they have no chance of selling to you.

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The Mountain & Adventure Film Festival is entering its 9th year, this 3 day, free festival celebrates the best adventure films and athletes of the year. Films are shared nightly, outdoors, in the Mammoth Mountaineering Supply parking lot. Runs Thursday September 22nd - the 24th!

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What is your favorite season in Mammoth Lakes? #destinationmammoth #visitmammoth ...

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The Destination Real Estate team will definitely volunteer for the cause.

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You know, I hear there are a lot of trees in Mammoth Lakes... hmmmm...

In a study published in July 2015, a team of psychologists concluded that "having 10 more trees in a city block, on average, improves health perception in ways comparable to an increase in annual personal income of $10,000 and being 7 years younger."

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