Here are the US cities where home prices are
actually falling
https://www.cnn.com/2023/02/19/homes/housing-prices-2022-fourth-quarter/index.html
https://www.cnn.com/2023/02/19/homes/housing-prices-2022-fourth-quarter/index.html
Overall, U.S. home prices rose on a year-over-year basis
https://www.wsj.com/articles/steepest-home-price-declines-in-fourth-quarter-were-in-the-west-11675962886
WSJ:
Prices are holding above year-ago levels in most markets because the inventory of homes for sale remains low. Existing homeowners with low mortgage rates are reluctant to list their homes for sale because they don’t want to buy a new home at a higher mortgage rate, real-estate agents say.
Median prices rose by more than 10% from a year earlier in 18% of the 186 metro areas, a deceleration from the third quarter when 46% of metro areas reported double-digit-percentage growth, NAR said.
Housing demand is holding up better in metro areas with strong job markets, economists say.
In the fourth quarter, the typical monthly mortgage payment for a single-family home rose to $1,969, a 58% increase from $1,249 a year earlier, NAR said. NAR’s measure of housing affordability fell in October to its lowest level since September 1985.
Florida markets remained hot. Prices rose 19.5% in the North Port, Fla., metro area, and 17.2% in Naples, Fla., the second- and third-highest year-over-year gains of the 186 metro areas.
https://www.wsj.com/articles/steepest-home-price-declines-in-fourth-quarter-were-in-the-west-11675962886
WSJ:
Prices are holding above year-ago levels in most markets because the inventory of homes for sale remains low. Existing homeowners with low mortgage rates are reluctant to list their homes for sale because they don’t want to buy a new home at a higher mortgage rate, real-estate agents say.
Median prices rose by more than 10% from a year earlier in 18% of the 186 metro areas, a deceleration from the third quarter when 46% of metro areas reported double-digit-percentage growth, NAR said.
Housing demand is holding up better in metro areas with strong job markets, economists say.
In the fourth quarter, the typical monthly mortgage payment for a single-family home rose to $1,969, a 58% increase from $1,249 a year earlier, NAR said. NAR’s measure of housing affordability fell in October to its lowest level since September 1985.
Florida markets remained hot. Prices rose 19.5% in the North Port, Fla., metro area, and 17.2% in Naples, Fla., the second- and third-highest year-over-year gains of the 186 metro areas.
When It’s Easy to Be a Landlord, No One Wants to Sell
https://www.nytimes.com/2023/02/11/business/economy/real-estate-market-landlords.html
https://www.nytimes.com/2023/02/11/business/economy/real-estate-market-landlords.html