Home Prices Declines? Last year in real estate, people were speculating that the housing market was going to crash and prices were going to drop more than 20% here locally and at the national level, that just wasn’t the case. Here’s what took place instead. This graph shows the worst home price declines are already behind us. Back in July, prices started to climb a little bit and you can see that in the red bars here.
But then just a few months ago in February, they started to go back up. Today, you may see some headlines saying that the worst is here yet for home prices. But you can breathe a sigh of relief. The data shows prices have turned a corner and they are actually starting to rebound. Of course, home prices various vary from area to area.