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In the three months ending Oct. 31, 11.5% of homes sold featured both a concession and a price drop. Another 4.4% of homes sold, ... Las Vegas, Nevada: 54.3%. Raleigh, ...
A Las Vegas housing development. ... home prices are just 0.7% below a record high. ... people have been waiting to see if they'll drop even more," Nicole Stewart, a Redfin real estate agent, said
Homeowners are trimming prices to revive buyer interest, which has dropped off amid record price highs and elevated mortgage rates. The median home price fell 1.3% year-over-year, hitting $429,990.
Rent in Phoenix was down 4% and Las Vegas was down 1.8%. But in places like Los Angeles, and Seattle, they’re up 0.2% and 1.3%. Rents continue to rise in big Northeastern metros such as New York ...
Some metros have posted home price declines of more than 10% from their 2022 peaks.
Real estate bubbles are invariably followed by severe price decreases (also known as a house price crash) that can result in many owners holding mortgages that exceed the value of their homes. [ 32 ] 11.1 million residential properties, or 23.1% of all U.S. homes, were in negative equity at December 31, 2010. [ 33 ]