Whenever news of rising home prices comes up, there are people online who respond with, "Our neighborhood's prices have dropped?". So, I've prepared a short post on this topic.
Below is a table showing changes in home prices in the top 20 cities in the United States, taken from Marketwatch.com. It displays the percentage change in average home prices over the past 12 months.
As you can see, some places have seen price increases, while others have seen decreases. However, the average for the top 20 cities has risen by 2.2%.
How about Chicago, where I live? Compared to last year, home prices in Chicago have risen by 5%, making it one of the cities with the highest increases, along with New York. The biggest decrease was in Las Vegas, where prices dropped by 4.9%, and there were also slight decreases in cities like Dallas, Phoenix, and some cities in the Northwest.
In other words, whether home prices rise or fall depends on the specific location. If you want to obtain more detailed information about your area, you can contact a reputable real estate agent in your area.
I'll strive to bring you more helpful content in the future.
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