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The 88240 neighborhood in Hobbs, New Mexico, is projected to see the highest percent decline in average home prices at -7.4%, or a $12,054 decline on the average $162,908 home price.
In swing states, the median home sale price has risen by 40%, to a record high of $316,063 as of 2024. But the median housing payment has nearly doubled, rising 92% to an all-time high of $2,161.
Homeowners are trimming prices to revive buyer interest, which has dropped off amid record price highs and elevated mortgage rates. The median home price fell 1.3% year-over-year, hitting $429,990.
In fact, rural home price growth has exceeded that of urban and suburban areas, with average home values growing by 7% year over year, compared to 6% for urban cities and 6.8% for suburban areas ...
According to data from Zillow, U.S. home prices fell by 0.03% month over month between July and August 2024 -- a modest decline, but significant given that prices usually increase during this time ...
Homes are shrinking in size and soaring in price. The median American home is 128 square feet smaller and $125,000 more expensive than it was five years ago, according to a recent analysis from ...
Some metros have posted home price declines of more than 10% from their 2022 peaks.
And so that’s why there isn’t more inventory reaching the market, and that’s why homes haven’t become more affordable. Normally in a market like 2008, you see prices come down 30% to 50% ...