Historically, apartment prices have fluctuated based on various economic conditions. In general, when the economy is strong and unemployment is low, apartment prices tend to increase as more people can afford to purchase or rent housing. On the other hand, when the economy is weak and unemployment is high, apartment prices tend to decrease as fewer people can afford to purchase or rent housing.
During the post-World War II period, the US experienced a period of strong economic growth and low unemployment, which led to a significant increase in housing demand and prices. This period, known as the “post-war housing boom,” lasted until the late 1960s.
The 1970s and 1980s were characterized by economic stagnation and high inflation, which led to a decrease in housing demand and prices.
In the late 1990s, the US experienced a period of strong economic growth and low unemployment, leading to a significant increase in housing demand and prices, particularly in the single-family housing market. This period is often referred to as the “housing bubble.” However, the bubble burst in the early 2000s, leading to a significant decrease in housing prices and demand.
The 2008 financial crisis also had a significant impact on the housing market, leading to a decrease in housing prices and demand. However, the housing market has been recovering in the years following the crisis.
It’s worth noting that these are general trends and the specific price movements can vary depending on the location, type of housing, and other factors. I suggest consulting with real estate experts, and looking at specific data for more accurate information on the trends.