4 December 2023
The Case-Shiller National home price index indicates a slowdown in housing price growth since March 2022. Recent homebuyers, particularly in high-demand areas, are facing property value depreciation, making it harder to build equity and potentially leading to sales losses. However, long-term homeowners are still profiting, with 97% of sellers nationwide selling their homes at a gain. The current market’s high prices are sustained by tight inventory and homeowners’ reluctance to switch to higher mortgage rates.