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Why are US home prices falling in some markets?
US home prices are dropping in certain metros due to rising mortgage rates, increased inventory, and shifting buyer demand. Economists forecast a slight decline overall, as sellers adjust to higher borrowing costs and changing market conditions.
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Is now a good time to buy a home in the US?
Falling prices can create buying opportunities, especially for those who can secure favorable mortgage terms. However, it's important to consider local market trends, your financial situation, and future economic outlook before purchasing.
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What should I watch out for when buying during a market dip?
Look for signs of market stabilization, such as increased inventory and price cuts. Also, consider regional differences, mortgage rates, and your long-term plans to ensure you're making a sound investment.
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Are US home prices expected to keep falling?
Experts predict a modest decline of around 1% by the end of the year, but the market could stabilize or rebound depending on economic factors like interest rates and employment levels.
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How do regional differences impact buying decisions?
Some markets, like Oakland, are experiencing sharper declines, while others remain relatively stable. Understanding regional trends helps buyers identify the best opportunities and avoid areas with ongoing price drops.