If you’ve been tracking homes for sale, your eyes aren’t playing tricks on you — asking prices from homes are down, having fallen 2.5% year over year in June, according to new data from Realtor.com’s June Housing Report. This marks the steepest annual decline in Realtor.com housing price data since 2017 and the eighth consecutive month of price drops.
“After years of historically low rates and pandemic-era demand, with new construction that couldn’t keep pace, prices ran up fast. Now they’re settling back toward something more sustainable,” explains Jason Madiedo, CEO and co-founder of SimplyPMG, a national mortgage bank. (See mortgage rates in your area here, from our ad partner Bankrate.)
Read the full article here: Asking prices for homes see their steepest decline since 2017, report shows. Is now the time to buy? - MarketWatch
