The U.S. housing market continues to show resilience even as affordability challenges persist. According to recent data from real estate brokerage Redfin, the number of major metro areas with year-over-year home price declines dropped slightly from 110 in April 2023 to 105 this year. This shift highlights a subtle cooling of the widespread post-pandemic price correction, with many markets stabilizing as buyers gradually return and inventory remains limited.
Despite high mortgage rates and lingering inflation concerns, home prices are holding steady or even climbing in many parts of the country. Redfin’s report notes that national median home prices have increased by approximately 6.2% year-over-year, with some markets—particularly in the Northeast and Midwest—experiencing stronger gains. This suggests a growing demand in traditionally more affordable regions, as buyers seek better value outside the pricier coastal cities.
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