🏡 Are Home Prices Really ‘Flat’? Not Quite.

You’ve probably seen headlines lately claiming that home prices are flat.At first glance, it sounds like prices have simply stopped moving — but the real story is much more complex.

Different Directions in Different Regions

It’s true that the explosive growth from 2020–2022 has cooled, but price trends now vary widely by location.According to ResiClub and Zillow, roughly half of the 50 largest U.S. metros are still seeing price gains, while the other half are showing slight declines.

In other words, the national average may look flat, but what you experience depends entirely on where you live.

The Real Factor: Inventory

Research from the Harvard Joint Center for Housing Studies (JCHS) shows that markets with rising inventory are seeing price declines, while areas with limited listings continue to see prices climb.

This highlights a key truth: national data hides strong local differences.

It’s also worth noting that many of the regions seeing small price drops today are those that surged the most during the pandemic boom.Over the past five years, home prices nationwide have risen by about 50%, with some markets far exceeding that.So even with minor corrections, most homeowners are still sitting on substantial equity.

For Buyers

• 📈 In markets where prices are still rising, waiting could mean paying more later.

• 💬 In markets with mild price adjustments, buyers can gain leverage — such as asking for repairs or closing cost assistance.

👉 Understanding local market trends is the key to strong negotiation and smart timing.

For Sellers

• 📊 In appreciating markets, you may be able to sell with minimal concessions.

• 💡 In cooling markets, pricing accurately from the start is essential, along with flexibility during negotiations.

Working with an agent who truly understands your local market data can make the difference — homes priced right are still selling quickly.

Bottom Line: Real Estate Is Always Local

National averages tell part of the story, but every neighborhood has its own rhythm.Right now, what matters most is knowing what’s happening inside your ZIP code.

If you’re thinking about buying or selling, now is the time to connect with a professional who can help you create a strategy based on real, local market data.

📞 Chicago Bokdeokbang — Hansangcheol773-717-2227 | ChicagoBDB@gmail.com