How Far Will Home Prices Go Down

Performance Property Real Estate Question

Q: It looks like home prices are going down now finally. How far will home prices go down? Victor, Livingston, NJ

A: Home prices have cooled in many local real estate markets but not in all real estate markets. Every local real estate market is different and the pace of home price declines will vary from market to market. In fact, some local real estate markets may not see home price declines at all. It depends on the town and ultimately on the specific neighborhoods in each town. Averages are misleading and some towns and areas simply have more sustainable home buyer demand regardless of current macroeconomic conditions like interest rates and the current state of the economy.

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Vaughn | Westfield, New Jersey

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Camille Perry | Newark, New Jersey

“Hey Gerald wanted to give you a heads up that they offered me a loan modification. Thanks for all your help!"

Robert Evans | North Arlington, New Jersey

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Carol Cunningham| West Orange, New Jersey

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Iradys Rivero| North Bergen, New Jersey

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Deborah Dowe| Plainfield, New Jersey

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Evelyn Rudnicki | Rochelle Park, New Jersey

“I'm not trying to be a pain in the neck but I would like to thank you for your advice. I think things are going to work out for me. I did exactly what you told me and I think the mortgage company is going to work with me. I appreciate your advice. You are a Godsend. The world needs more people like you. Thank you and God bless you."

Jimmy Armstead | Roselle, New Jersey

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Virgilio Rodriguez | Paterson, New Jersey

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John Nikoe | Linden, New Jersey

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Jim Armstead | Roselle, New Jersey

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Amoy Frost | South Orange, NJ

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David Brown | Rahway, New Jersey

“Thanks Gerald...I appreciate the time and effort you put in to this. You never gave up on it and I get my life back. I am grateful for everything. Thanks again.”