US Housing Prices Are Finally Falling #Shorts

Say goodbye to the US housing bull market. Home prices fell – finally – for the first time in a decade as mortgage rates surged. #Shorts #Housing #RealEstate

Home prices in the US have taken a turn and are now posting the biggest monthly declines since 2009.

Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, mortgage-data provider Black Knight Inc. said in a report Monday. The two periods mark the largest monthly declines since January 2009.

“Together they represent two straight months of significant pullbacks after more than two years of record-breaking growth,” said Ben Graboske, Black Knight Data and Analytics president.

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[davids.]

rates are higher though so the end result is basically the same

[ferndog]

Folks are SCARED. Folks are being more conservative with their spending. Not counting major port cities in West Coast / East Coast, there may be a single digit % drop in average home sale prices.