After seasonal adjustment, the National Index posted a month-over-month decrease of 0.2%. “2023 began as 2022 had ended, with US home prices falling for the seventh consecutive month,” said Craig Lazzara, managing director at S&P Dow Jones Indices. But still, only 15 out of 20 cities in the index reported month-to-month declines. Prices in Atlanta and Chicago were flat from December, while Miami; Boston; Cleveland and Charlotte, North Carolina, had slight increases.
Home prices have been falling as a result of the Federal Reserve’s historic effort to rein in inflation. That battle has caused mortgage rates to spike over the past year, resulting in many home buyers being priced out of purchasing a home. Typically, when demand drops, supply swells and prices go down. But fewer homes are coming to market for sale because ultra-low interest rates over the past few years are causing many home owners to stay put, keeping the inventory of homes stubbornly low.
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They feel in dem areas? NOT Mine.
Depends on the market!!!!!!
The state of real estate varies from market to market. National trends may not represent what is going in within your local market. Get yourself a REALTOR who understands your local market. 🙂
It’s so funny to watch the CNN propagandists try to hold up Bidens economy. 😂😂 everyone is waking up to this, and now it’s pure entertainment.
Lol they’re not skyrocketing anymore but leveled off
Build back better folks. 😂
Absolutely true. The reason is no one can afford houses anymore because of the economy doing so poorly.
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US is a very broad area … depending on where ..
While interest rates stay so high people can’t afford to buy one
You telling me. I have been trying to sell our house four 4 months now. We dropped the price by alot, but to me, it is still overpriced, but that is what 'market' tells me the house is worth
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