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| Body | 📉🤔 Understanding the ebb and flow of the housing market is key, whether you're selling your cozy nest or on the hunt for your dream home. But there's often confusion about the terms 'depreciation' and 'deceleration.' Let’s clear that up!<br /> <br /> 🏚️ Depreciation is what happens when a property's value dips over time, usually thanks to the inevitable aging process, wear and tear, and changes in the neighborhood that might not be in your favor. It's a very personal affair, impacting your property directly.<br /> <br /> 📊 Deceleration, on the other hand, is like the whole market taking a collective deep breath. It's when the overall growth of property prices starts to slow down, often due to bigger economic forces, like a downturn or, as we’re seeing currently, higher mortgage rates.<br /> <br /> Now, with mortgage rates climbing, affordability is taking a hit, and we're experiencing a market deceleration. This doesn’t mean prices are dropping; they're just not skyrocketing as they were. Think of it as going from a sprint to a jog.<br /> <br /> 💡 If these concepts have you scratching your head or you’re craving more insight into today’s housing landscape, don't sail through these waters alone.<br /> <br /> 📺 Watch our detailed video for a deeper dive, and for a personal navigator through this market, reach out. DM, call, text, or email us at 507-398-9044 or kelly@domaillerealestate.com.<br /> <br /> #AskDomailleRealEstate #LoveWhereYouLive #RochesterMNRealEstate #ByronMNRealEstate #RochesterMNRealtor #ByronMNRealtor<br /> <br /> 👍 Like, share, and let’s demystify the market together. Your successful real estate journey is our mission. 🚀🏡 |
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