As you have seen in all parts of the country over the past couple years, appreciation of homes has been on the rise. Some may say meteoric, similar to when Tik Tok hit the scene and everyone was making dancing videos.

Just like Tik Tok, the Real Estate Market can only take so much of the same thing and has to adjust. That adjustment for the Real Estate Market is the slowing up of home prices, not depreciating home values.

Let me explain…

There are a lot of articles out there stating that market prices have came down, sellers are taking price decreases, less homes are going under contract, less applications for loans are being processed, just to name a few.

What the story headline does not tell you, is the FULL TRUTH.

Yes, some sellers are taking price reductions, this is different for every area. What I can say for Charlotte and similar areas is that, this is due to pricing homes too high and not understanding what is going on in the market. Home appreciation is slowing, not depreciating! It’s decelerating.

Here’s a breakdown of what I mean…

Appreciation is when home prices increase
Depreciation is when home prices decrease
Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace