House prices shot up in my area (northern NH) during the pandemic. They were pretty low before. We lost a lot of jobs over the years but if you have remote work it doesn’t matter where you live.
I see in some areas that experienced the pandemic boom prices are coming down. A lot of that is city people finding out they aren’t country people.
Of course, it looks like the housing bubble in general is starting to burst. I’m old enough to have seen this cycle numerous times.
House prices only matter if you are buying or selling. If you have a home already and plan to stay it’s all good. If you don’t use your home value like an ATM and withdraw value you are ahead of the game. If you do have to sell it’s nice not be upside down on it.
To me the value of my home is only partly monetary. It’s true value is that it’s where I want to live. How do put a dollar value on that joy? What you can put value on is things me having my own water supply and easy access to hunting and fishing. Firewood for heating is all around me. Just having a place to be able to work on my cars and fix other things is valuable.
Right now the current property value means nothing compared to everything else.