Housing bubble 2.0 continues to deflate and bring along some big price declines in the San Fransisco bay area, California where median home prices for existing (pre-owned) homes have dropped $165K below the 2018 home price peak. We also see new home prices nationally down 12% year-over-year, indicating that the slowdown trend is continuing. We also look at existing home prices in many states showing several states are barely hanging on to year over year price gains. In addition, home values see the largest single-month decline since 2012. Also, sales continue to drop while inventory continues to rise, across most of the U.S, which points to likely continued price stagnation.
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