But what homebuyers and homeowners alike want to know is: How much lower will prices go? The short answer: Prices are likely to drop further, but not by as much as they did during the housing bust. From the 2006 peak to the 2012 trough, national home prices fell by 27%, according to S&P CoreLogic Case-Shiller Indices, which measures US home prices. “It was different in 2008, 2009 because that drop in prices was because of a push from sellers,” said Jeff Tucker, senior economist at Zillow.
Wells Fargo’s economists estimate that the median price for an existing single family home to be $385,000 this year, up 7.8% from last year, but the growth will be a lot less than the 19% year-over-year increase seen in 2021. The economists anticipate the median home price will fall to $364,000, a decline of 5.5% from this year. They predict prices will rebound and rise again in 2024, with the median price ticking up 3.3% to 376,000 by the end of 2024.
Rent. It's cheaper.
80%
Hopefully low enough to where condemned homes are not 150k and fixer uppers are 200k in rural sC.
Those mortgage rates though
CNN = FAIL
Clowns
Remember 2008? Thanks Joe Biden!
home prices will not drop more then 10% , nobody is moving
Meanwhile savings are being depleted and credit card balances are rising at 40 year highs...
Doesn’t matter. Can’t afford anyways
Im still looking around to see who’s earning extra $1000 a month and has an extra 100k+ laying around for down payment. This is a difficult slow painful drop, possibly to 2018 numbers.
Would you like the truth or would you like me to word it as a question?