Here's Where Home Prices Are Heading This Summer, According to Experts
By:
Pete Grieve
Pete Grieve
Reporter | Joined May 2024
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Eddie Lee / Money; Getty Images
The real estate market has lost steam in the first months of 2023, and a new forecast says U.S. home prices could soon sink to 5% below year-ago levels.
Home prices, which soared for most of the pandemic, are in the midst of their biggest decline since 2012. Redfin data shows the median sale price in the U.S. was $400,528 in March, 3.3% lower than the median in March 2022.
Vanguard, an asset management firm, said in a new report it now expects home prices to fall further heading into the halfway point of the year.
