US home sales fell again in January; prices edged higher

Consider, the monthly mortgage payment on a typical U.S. starter home priced at $321,900, after factoring in a 10% down payment, was $1,931 in the fourth quarter, or 57% higher than a year earlier, according to data from the NAR.

“Inventory remains low, but buyers are beginning to have better negotiating power,” Yun said. “Homes sitting on the market for more than 60 days can be purchased for around 10% less than the original list price.”While home prices rose overall, they fell in roughly half the country last month, Yun noted.

Overall, the market remains competitive, though not as frenzied as it was a year ago, when multiple offers and buyers paying well above asking prices were more common.“Buyers can anticipate some good negotiating power for those homes that are sitting on the market for a long period,” Yun said.

The roller coaster economy isn't so bad except for housing

Because big business bought them all up and refuses to sell. They will only rent.

Isn’t this what the interest rate hike was supposed to do?

Two of my properties of lost 10% of their value over the last 12 months! Even raising rent by $800 has mean I’m barely earning a profit after the management company takes their cut! Things gotta change!

Higher interest rates and a greedy market.

The prices are still puffed up from the Covid money printing. Another 30% fall, at least.

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