New Listing! BERKSHIRE HATHAWAY HOMESERVICES COLORADO PROPERTIES MONTROSE $385.000 1136 $2nd Street 3 Beds 12 Baths 1470 sqft Autumn Barrett. 970.318.0708 YOUR HOME IS A POWERFUL INVESTMENT Going into 2023, there was a lot of talk about a possible recession that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%-and that might have made you feel a bit unsure about buying a home But here's what actually happened home prices went up more than usual Brian D. Luke, Head of Commodities at S&P Dow Jones Indices explains Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years To put last year's growth into context, the graph below uses data from Freddie Mac on how home prices have changed each year going back to 1980. The dotted line shows the long-term average for appreciation Percent of Annual Home Appreciation EDMARESTATES $349,000 113 Akard Avenue 3 Beds 2 Baths 12.382 sq. ft. Don Bailey, 970 200 257 THE BIG TAKEAWAY? HOME PRICES ALMOST ALWAYS GO UP. As an article from Forbes says the US real estate market has a long and reliable history of increasing in value Over time in fact, since 1980, the only time home prices dropped was during the housing market crash (shown in red in the graph above). Fortunately the market today isn't like it was in 2008. For starters, there aren't enough available homes to meet buyer demand right now. On top of that homeowners have a tremendous amount of equity, so they're on much stronger footing than they were back then. That means there won't be a wave of foreclosures that causes prices to fall The fact that home values went up every single year except those four in red is why owning a home can be one of the smartest moves you can make. When you're a homeowner, you own something that typically becomes more valuable over time. And as your home's value appreciates your net worth grows So, if you're financially stable and prepared for the costs and expenses of homeownership, buying a home might make a lot of sense for you BOTTOM LINE Home prices almost always go up over time. That makes buying a home a smart move, if you're ready and able Let's connect to talk about your goals and what's available in our area bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond! 11 Offices and over 160 real estate brokers Call one of our trusted real estate brokers Trena Unrein, Brian Unrein Autumn Barrett, Don Baey Jeff Kehfuss, Kree Christie Linda Makya Cervone, Michael Scott Dosch, Heidi Lutz, Mend Sepah, and Donna Justin New Listing ! BERKSHIRE HATHAWAY HOMESERVICES COLORADO PROPERTIES MONTROSE $ 385.000 1136 $ 2nd Street 3 Beds 12 Baths 1470 sqft Autumn Barrett . 970.318.0708 YOUR HOME IS A POWERFUL INVESTMENT Going into 2023 , there was a lot of talk about a possible recession that would cause the housing market to crash . Some in the media were even forecasting home prices would drop by as much as 10-20 % -and that might have made you feel a bit unsure about buying a home But here's what actually happened home prices went up more than usual Brian D. Luke , Head of Commodities at S & P Dow Jones Indices explains Looking back at the year , 2023 appears to have exceeded average annual home price gains over the past 35 years To put last year's growth into context , the graph below uses data from Freddie Mac on how home prices have changed each year going back to 1980. The dotted line shows the long - term average for appreciation Percent of Annual Home Appreciation EDMARESTATES $ 349,000 113 Akard Avenue 3 Beds 2 Baths 12.382 sq . ft . Don Bailey , 970 200 257 THE BIG TAKEAWAY ? HOME PRICES ALMOST ALWAYS GO UP . As an article from Forbes says the US real estate market has a long and reliable history of increasing in value Over time in fact , since 1980 , the only time home prices dropped was during the housing market crash ( shown in red in the graph above ) . Fortunately the market today isn't like it was in 2008. For starters , there aren't enough available homes to meet buyer demand right now . On top of that homeowners have a tremendous amount of equity , so they're on much stronger footing than they were back then . That means there won't be a wave of foreclosures that causes prices to fall The fact that home values went up every single year except those four in red is why owning a home can be one of the smartest moves you can make . When you're a homeowner , you own something that typically becomes more valuable over time . And as your home's value appreciates your net worth grows So , if you're financially stable and prepared for the costs and expenses of homeownership , buying a home might make a lot of sense for you BOTTOM LINE Home prices almost always go up over time . That makes buying a home a smart move , if you're ready and able Let's connect to talk about your goals and what's available in our area bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond ! 11 Offices and over 160 real estate brokers Call one of our trusted real estate brokers Trena Unrein , Brian Unrein Autumn Barrett , Don Baey Jeff Kehfuss , Kree Christie Linda Makya Cervone , Michael Scott Dosch , Heidi Lutz , Mend Sepah , and Donna Justin