Tag Archives: Home price declines

About 7% of the 221 metropolitan areas tracked by the National Association of Realtors reported double-digit price gains in Q1, falling from 18% from Q4 2022.

Coastal areas and large cities are the most likely candidates to see home price declines in the future.

According to the National Association of Realtors, the average price of a home rose to $378,700 in the fourth quarter of 2022.

"There are economic signals pointing to recession but also signs that a 'soft landing' may be in the offing," said Doug Duncan, SVP and Chief Economist, Fannie Mae.

According to a new Redfin analysis, a projected 3% of pandemic homebuyers could fall underwater with next year’s estimated 4% home price decline, with metros such as Sacramento and Phoenix at a higher risk.