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Housing Market Takes 'Ugly' Turn in Sign for Future: Expert

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Certain markets are seeing price cuts amid increased supply of homes for sale.

Declining prices in certain housing markets portends a declining reality for homeowners looking to sell, according to a real estate expert, amid a fall in mortgage rates that could help buyers come back to a market that has been unaffordable for many Americans.

Prospective homeowners have been hit hard with mortgage rates at their highest since the turn of the century and record-high prices, making the prospect of owning a house beyond their reach.But that may be about to change, Gerli said.'In some of these states, this is going to be the most advantageous time to buy in years, at least since 2020 or 2021,' he told Newsweek.

 

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