"Buyer Bargains: Here Are the 10 U.S. Cities Where Home Prices Are Dropping the Most Right Now"
Posted by Grossman & Jones Group on
According to realtor.com, "The inconceivable is happening. After two-plus years of unimaginable and seemingly inexorable growth, home prices are falling from their heady peaks over the summer.
The reason: Higher mortgage interest rates have thinned out the ranks of buyers who can still qualify for a home loan and sharply reduced the price of the homes the remaining few in the market can afford. Gone are most of the frenzied bidding wars and six-figure offers over the asking prices. Homes are now sitting on the market longer, inventory is piling up, and sellers—at least in some markets—are cutting prices.
Ironically enough, they tend to be the areas that fully dominated the real estate market during the COVID-19 pandemic, with big influxes of new…
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