Growing Number of Experts Calling for Substantial Home Price Declines
- Significant price declines lie ahead, many experts argue.
- Insider recently spoke with three experts calling for median home prices to fall.
- Recession fears and rising interest rates have started to cool interest in the U.S. housing market.
- Poor consumer sentiment implies home prices may decline this year and next.
One of the most remarkable developments in the post-pandemic economy has been the sharp rise of the housing market. Despite initial pandemic fears, people with means rushed into the real estate sector in 2020, inherently driving up home prices. The Federal Reserve also dramatically reduced benchmark interest rates, spurring acquisitiveness.