Why Aren't Home Prices Crashing?
Home loan rates rose drastically last year, impacting lots of individuals & rsquo; s ability to buy a home. And after several years of quick price appreciation, house costs lastly peaked last summer season. Even though we & rsquo; re no longer seeing the buyer frenzy that drove home worths up during the pandemic, prices have actually been fairly flat at the national level. Home mortgage rates rose significantly last year, impacting lots of people & rsquo; s ability to purchase a home. And after a number of years of quick price gratitude, home prices finally peaked last summer season. Even though we & rsquo; re no longer seeing the buyer frenzy that drove home values up during the pandemic, costs have actually been relatively flat at the national level. & rdquo; You may think sellers would have to lower prices to attract buyers in todayâ& rsquo; s market, and that & rsquo; s part of why some might have been waiting for costs to come crashing down. Will some markets see a rate decline?