Dear all,
BREAKING:
New US Home Prices are now down 20% from their highs, in bear market territory, and falling faster than rates seen in 2008, according to Reventure.
New US home prices peaked in late-2022 at $497,000 and have fallen to $401,000 as of the latest data.
In the financial crisis, new US home prices dropped by 23% from 2007-2010, according to Reventure.
Prices are down roughly the same amount in just 1.5 years, or half the amount of time.
Is the US housing market beginning to crack?
Regards
2 Likes
sgmd01
March 27, 2024, 12:47am
2
New homes are smaller and being build further from cities which accounts for a substantial portion of that price decrease (the median listing price per square foot has not substantially changed in that time frame)
1 Like
Scott,
Thanks for your info and hope you are doing well. (we haven't talked for a while.)
Here is another update from Reuters and the chart from Fed St Louis (FRED) for reference.
Regards
By Lucia Mutikani
March 26, 202412:59 AM GMT+8
A "For Rent, For Sale" sign is seen outside of a home in Washington, U.S., July 7, 2022. REUTERS/Sarah Silbiger/File Photo
