Top 10 Housing Markets Where Home Prices Are Dropping

The housing market is showing signs of cooling down, with declining home prices and soaring loan interest rates. Over 61% of sellers have reduced their asking prices, according to Redfin. Freddie Mac reports that the national average mortgage rate has risen to a staggering 7.57% as of the second week of October. Year-over-year existing home sales have dropped by 0.7% nationwide for three consecutive months. Major regions are all experiencing declines in home sales. Sellers are struggling to find buyers, leading to price drops of thousands of dollars in cities like San Francisco. We'll discuss the top 10 cities experiencing significant housing price cuts, providing insights and potential reasons for the market downturn.
#RealEstateCrisis #ForeclosureWarning #HomeBuying2023


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