931 - Real Estate Prices Finally Decline Year-Over-Year After 131 Straight Months Of Increases by Andrew Syrios

It was bound to happen, and it finally did.  Last month, according to a new report from the National Association of Realtors (NAR), real estate prices finally went negative,  “The median existing-home prices for all housing types in February was $363,000, a decline of 0.2% from February 2022 ($363,700), as prices climbed in the Midwest and South yet waned in the Northeast and West. This ends a streak of 131 consecutive months of year-over-year increases, the longest on record.” All good things, right? Though at first, this might sound odd. I myself wrote back in September last year that prices had finally started to decline. But those were month-over-month prices. In normal times, even when the market is flat, prices tend to increase in the summer months and decrease in the winter months.  Learn more about your ad choices. Visit megaphone.fm/adchoices