It’s Shoulda Woudla Coulda Time! Thoughts on Home Prices

It’s Shoulda Woudla Coulda Time! © Aaron Zapata

2005 v 2015 Home PricesIn the years from 2008-2010 I had too many conversations about how “bad” the market was…way more than I care to admit. It was non-stop, as homeowner after homeowner lamented about how far home prices had fallen. The phrases below were so common they have been etched in my brain forever.

“Man! I wish I would of known!”

“Oh, if I had known, I could of sold and moved out of state! Now I’m stuck.”

“If home prices ever get to that point again, I’m going to sell!”

Well guess what?

Last week at the CALIFORNIA REALTOR® EXPO in San Jose they announced that home prices are expected to rise 3.2 percent in 2016 and noted that this is the slowest rate of price appreciation in five years.

More importantly, I researched home prices on my own and found that single family home prices have finally reached the point where they were in 2005-2006. The home stats for OC provided by our Multiple Listing Service show prices for 2005-2006 looking almost identical to the prices for 2014-2015. Take a look at the info graphic (sorry if it’s blurry) I posted. You will see that the home prices in the yellow boxes look very similar! Home prices soared in first half of 2007 and then came crashing down. Right now, it looks like all the king’s horse and all the king’s men have figured out a way to put humpty dumpty back together again.

So what are you going to do?

Is this the time you have been waiting for?

The good news is you get to decide. We’ve all been here before and now you get to be in the driver’s seat.

What are your thoughts? Let us know by sharing your thoughts below.

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Aaron Zapata is a top-producing REALTOR® in Southern California and owner of Zapata Realty, Inc. He holds an MBS from Cal State Fullerton and his team closes over $50 Million per year in real estate transactions. If you’d like to contact Aaron about selling or buying a home, you can email him at Aaron@AaronZapata.com or call (714) 660-2122. He’d love to hear from you.

 

“The simple believes everything, but the prudent gives thought to his steps.” Proverbs 14:15 (ESV)

 

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