Of the several ways to measure “the middle” or “the typical”
using median is one of the worst (least informative.)
Still the last two times “A” happened"
“B” happened shortly thereafter.
The last two times median home prices fell this quickly,
a bad recession followed.
13 more months is all they have to hold it together for.
Home prices stay stable if it not slightly up in the short term.
A recession is not going to impact home prices, homeowners are in the best position to weather it out.
If the fed cuts rates they will skyrocket again.
They did not play silly financing games to give people who could not afford loans a mortgage like during the Bush admin, so we should not have a crash. Prices will go down some depending on the market because of interest rates though. In a good market it will just go flat until interest rates drop.
Still down.
Picture is pretty much unchanged.
Median home prices don’t provide a lot of information about what any particular home would sell-for. Sometimes the only thing it shows is what type of homes are hot right now.
Anyway, here is an updated illustration of the median selling price for homes:
