Recent headlines about home prices may be on your mind if you're trying to decide whether or not to sell your home. And if those stories have you wondering what that means for the value of your home, here's what you need to know.

What’s Really Happening with Home Prices?

You may have seen news stories mentioning a drop in home values or price depreciation, but keep in mind that those headlines are designed to make a big impression in just a few words. But headlines aren't always good at painting the whole picture.

While home prices are slightly lower month over month in some markets, they are higher quarterly in the Conejo Valley. The graph below uses the most recent Conejo Valley Data to help tell the story of what's going on in the housing market today:

As shown in the graph, true home price growth has increased quarterly as buyer demand has increased, even if buyer demand has pulled back in response to higher mortgage rates. However, it is critical to consider the larger, longer-term picture. While monthly home price growth is slowing, home price appreciation is still well above the home price change seen in more normal market years.

What Does This Mean for Your Home’s Equity?

While you read the scary headlines on the internet, Conejo Valley house prices are rising quarterly.

What is the main takeaway? Don't let the headlines divert your plans to sell. You've most likely gained a significant amount of equity in your home over the last two years as home prices have risen. Even though future home price declines will vary by market, you can still use the equity boost to help power your move.

As Mark Fleming, Chief Economist at First American, says:

“Potential home sellers gained significant amounts of equity over the pandemic, so even as affordability-constrained buyer demand spurs price declines in some markets, potential sellers are unlikely to lose all that they have gained.”