Home Price Deceleration Doesn't Mean Home Price Depreciation
Posted by Andy Mandel on
Experts in the real estate industry use a number of terms when they talk about what's happening with home prices. And some of those words sound a bit similar but mean very different things. Hey, it's Andy with The Mandel Team at RE/MAX. And to help you clarify what's happening with home prices and where experts say they're going, let's look at a few terms that you may hear. Appreciation is when home prices increase, depreciation is when home prices decrease but deceleration is when prices continue to appreciate but at a slower pace, you've probably seen that home prices have skyrocketed in the past two years but homes were actually appreciating long before that.
Home prices over the long term have only gone up and inflation usually increases…
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