U.S. Home Prices Turn Negative, Sellers Finally Give Up Ground
U.S. home prices have officially turned negative. For many months, sellers have resisted adjusting to current market conditions—until now. This could bring short-term pain for flippers and sellers, but overall, it’s a step in the right direction for a housing market that desperately needs prices to soften before it can become unstuck.
We’re back with more headlines from last week, including new data that suggests foreclosures are quietly approaching pre-pandemic levels. Inflation remains high, and affordability continues to be an issue, but how close are we to seeing serious distress?
On the…
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