The Latest Breaking News from Home Prices

"Home prices keep marching higher," NAR’s chief economist Lawrence Yun said in a statement, arguing that "only a dramatic rise in supply will dampen price appreciation."

Lower interest rates ease the cost of financing home purchases. As a result, it could help revitalize the market for existing homes, as homeowners will be looking for opportunities to move to bigger or smaller homes, depending on their family needs.

The housing market downturn of last year has been completely unwound, but the pace of growth is slowing.

Relocating? What are the best states to live in? New Hampshire and Wyoming lead the list with the best mix of jobs, home prices, quality of healthcare and more, study shows.

Camden, New Jersey, saw a 10.6% increase in home prices this past year, the biggest nationwide increase. El Paso, Texas (10.3%), and Syracuse, New York (9.6%), followed.

Morgan Stanley forecasts a 3% drop in home prices next year—just half of the 6% price increase this year.

High mortgage rates and the increase in the inventory of homes for sale are putting downward pressure on prices.

“The evolution of the U.S. housing market has been Herculean or devastating depending on where you look,” the strategists wrote in their forecast.

After years of rising real estate prices, we're finally seeing some markets come back down to earth. That's great for potential homebuyers - who should take a careful look at these five metro areas, where home prices have cooled off in 2023, despite sky-high mortgage rates.