Home prices have been in the news a lot lately. Are they at record highs? Are they coming down? Should you buy a house? Should you sell your current one? It’s tough to get the whole story!

Luckily, being a realtor here in Festus who’s sold a number of homes this year, I can be your news anchor for this particular scoop.

Here’s what you need to know about the housing market right now:

Home prices are still rising — but they’ve slowed down a little bit! You might hear that prices are “cooling,” which just means they’re not climbing as fast as they were when they skyrocketed a few years ago. Obviously, this is good news if you’re looking to buy.

On the other hand, the number of homes for sale is increasing, but there still aren’t enough properties available to meet buyer demand. This means that if you’re hoping to sell, you haven’t missed “the window” to land the best price for your home.

And most importantly, keep in mind that real estate is always local. What’s happening in your neighborhood may be different than what’s happening 20 or 30 miles away from you, depending on supply and demand. So, prioritize researching your local market before calling any shots. You’ll be glad you did.

The bottom line: if you hear about home prices in the news, just know that you’re probably getting a single chapter of a much broader story. This is true of most stories these days, as I’m sure you’re aware. It’s on us to do our due diligence!

So, whether you’re thinking about buying or selling (or if you’re just curious to know what your house is worth) in Festus, feel free to give me a call. I’m happy to help formulate your next steps.