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Has Property Value Gone Down?

Sophia Al-Mansoor • • 7 min read
Has Property Value Gone Down?

New Home Sales in United States Are Down 24.3 Percent
This is 1.5 percent (±15.1 percent) above the revised July rate of 729,000, but is 24.3 percent (±19.1 percent) below the August 2020 estimate of 977,000. ... The median sales price of new houses sold in August 2021 was $390,900. The average sales price was $443,200.

Will home prices drop in 2021?

Economists at Fannie Mae, Freddie Mac, the Mortgage Bankers Association, and the National Association of Realtors forecast median prices will rise between 3 to 8% in 2021, a significant drop from 2020 but nothing like the crash in prices seen in the last housing crash.

Will the housing market crash in 2020?

Between April 2020 to April 2021, housing inventory fell over 50%. Though it has since ticked up, we're still near a 40-year low. ... 1 reason a housing market crash is unlikely. Sure, price growth could go flat or even fall without a supply glut—but a 2008-style crash is improbable without it.

Sophia Al-Mansoor
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Sophia Al-Mansoor

Sophia analyzes international trade, startup ecosystems, retail transformation, and supply chain logistics for modern digital publications.