U.S. Home Prices Hit Record in June (opens in new tab)

(wsj.com)

22 pointsstanrivers1y ago6 comments

6 comments

Prices being high while volume is low suggests homes are overvalued.

"We may be moving away from a sellers’ market towards balance, and may be entering a buyers’ market.”

When even the NAR's chief economist says the market is softening, I think it's a safe bet that prices will weaken somewhat in the next couple of years.

lesuorac1y ago

> Inventory has risen the most year over year in the South, according to Realtor.com.

> Inventory remains more limited in the Midwest and Northeast.

Pretty sure it's just regional demand has decreased in certain areas. If you're buying a house in Florida (good luck with insurance) you can get a deal. If you're buying a house in a major metro area, probably still a lot of money.

tayo421y ago

Just bought, hope this wasn't the peak. the housing market is funny. There's a prediction for every outcome. Some say it keeps going up, some think there's a bubble, the promise of interest rate drops can make it go down, or up.

I saw nice places sell fast or over asking. Places with problems, next to highways, weird paint, sellers are difficult, all sit for a while. I don't think you could give me a house for free that's next to a highway.

toomuchtodo1y ago

Any decline due to a near term peak will reverse as interest rates are cut. As long as you bought because you need somewhere to live and can service the mortgage, should be fine. Enjoy home.

stanriversOP1y ago

> There's a prediction for every outcome

Have never heard this phrase - stealing it!

charlie01y ago

Prices will continue to rise. There's a lot of demand still and lowering interest rates will only push prices upwards.

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