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Well, home prices have to fall; Whitney said prices need to drop about 20%. But that price decline would only take us to the price levels of three or four years ago before the pandemic and its ...
As a result, home prices, especially condos, fell after reaching unsustainable levels during the pandemic housing boom. Home prices in Florida were down 0.48% compared to last year. 3.
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.
Image source: Getty Images. Housing prices spiked during the pandemic as remote work became the norm for many companies, ... a 4.1% drop in its price would mean the home is now in your price range.
Nationally, many economists call for home prices to rise between 2% and 4% next year, around historical averages. But the strength of the housing market is likely to vary heavily by location.
Will housing sales decline? The volume of home sales has continued to soften over the course of 2024: Existing-home sales in September were down by 3.5 percent from last year.
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The housing market, which has been grappling with affordability challenges not seen since the early 1980s, may begin to ease later this year – but not enough to make a real impact for most ...