Home Prices CRASH Negative! Is This The Start of a Meltdown?
Did you know home prices have just turned negative year-over-year for the first time in over two years? This fractional drop, already down 1.4% in the last three months, signals a potential prolonged cooling period. The rapid run-up during COVID years followed by a sharp increase in mortgage rates created an affordability shock, pushing buyers out and forcing sellers to adjust expectations. While national prices are slightly down, specific markets like Austin are experiencing dramatic double-digit declines, starkly contrasting with gains in cities like Cleveland. This shift is a direct consequence of credit and affordability shocks, weaker demand, and an inventory imbalance. Don't miss out on this critical housing market update; subscribe to our channel for more essential insights.
Tags/Hashtags: #affordability #inventory
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