The Housing Market Is Correcting. So Why Are Home Prices Still Running Up That Hill?
The Housing Market Is Correcting. So Why Are Home Prices Still Running Up That Hill?
Abstract
The disconnect appears to be that home sellers have yet to adjust to this new reality. Buyers canβt afford these higher prices on top of higher mortgage interest rates. The number of price reductions on properties doubled in June compared with a year earlier. The top question on the minds of homebuyers and sellers alike is whether home prices are going to fall. Many real estate experts anticipate the rate of price growth will slow. Others predict the rate will slow in the year.
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