Don't think that declining is necessarily correct right now. and here's a good report answer.

[Tom D]

Home prices just keep rising, so it’s hard not to feel as though there’s no end in sight—and there may not be. After all, we’re missing between roughly two to seven million homes, and that shortage has only been exacerbated by the lock-in effect, as homeowners refuse to sell for fear of losing their low mortgage rates in our higher rate environment. Because there’s not enough homes to go around, prices don’t really have room to fall; and in March, they rose 6.5% from a year earlier, according to an S&P CoreLogic Case-Shiller index released today. On a monthly basis, national home prices rose 1.3%.

“This month’s report boasts another all-time high,” Brian D. Luke, head of commodities, real & digital assets at S&P Dow Jones Indices, said in the release. “We’ve witnessed records repeatedly break in both stock and housing markets over the past year.”

The 10-city composite saw an increase of 8.2% from the prior year, and the 20-city composite saw an increase of 7.4%. Of those 20 major cities, San Diego saw its home prices rise the most, reporting an 11.1% increase in March compared to a year earlier, which Luke called an “impressive” gain. New York was next, with its home prices rising 9.2%.

 

[Terrel L. Shields]

After all, we’re missing between roughly two to seven million homes,

and we gained 11 million illegal immigrants who are temporarily shielded from being evicted...do you think all of them came here penniless? I bet many shifted money to neutral or US banks long before they crossed the border. Correlation? Yes. Causation? Perhaps to Probably...

 

[J Grant]

Existing-Home Sales

The Existing-Home Sales data measures sales and prices of existing single-family homes for the nation overall, and gives breakdowns for the West, Midwest, South, and Northeast regions of the country. These figures include condos and co-ops, in addition to single-family homes.

www.nar.realtor

Prices down overall -1.9%, NAR ( National Association of Realtors). I;d believe them over a Dow Jones general article - but it really is regional and market-specific - I see A softening of prices in my area though I have only marked declining twice - other times I mark stable but that a price correction for higher interest rates has occurred with more DOM until prices are reduced to more marketable levels etc - DOM and pattern of listings tells the story - within a market area, different price points and property types can show different patterns. I see more inventory here in some segments and supply demand in balance in others and an undersupply of product in others.

Prices rose very rapidly in the last 3 years prior to the interest rate rise, and now, in FL, we have much higher RE taxes, and insurance doubled in the past year, which has a dampening effect on prices. Will see... there are no generic answers IMO -

 

[George Hatch]

and we gained 11 million illegal immigrants who are temporarily shielded from being evicted...do you think all of them came here penniless? I bet many shifted money to neutral or US banks long before they crossed the border. Correlation? Yes. Causation? Perhaps to Probably...

IMO the lower end of the pricing is supported by the rental market via the principle of substitution (alternative the buying a starter home is to rent one). Enabling more renters to pay higher rents via arbitrary increases in employment income and entitlement income adds to the directly connected effective demand for those units at the higher rents.

More effective demand among the rental tenants for apartments and homes leads to increases in rents. Fewer rental tenants will lead to less effective demand overall and will result in increased vacancy and decreases in rents. Expelling renters who have no right to be in the country will decrease the number of rental tenants.

So yeah, government conduct is a directly contributing factor of to rental increases and home pricing increases.

 

[George Hatch]

BTW, one of these things is not like the other

 

[Cob]

IMO the lower end of the pricing is supported by the rental market via the principle of substitution (alternative the buying a starter home is to rent one). Enabling more renters to pay higher rents via arbitrary increases in employment income and entitlement income adds to the directly connected effective demand for those units at the higher rents.

More effective demand among the rental tenants for apartments and homes leads to increases in rents. Fewer rental tenants will lead to less effective demand overall and will result in increased vacancy and decreases in rents. Expelling renters who have no right to be in the country will decrease the number of rental tenants.

So yeah, government conduct is a directly contributing factor of to rental increases and home pricing increases.

https://www.kxan.com/news/local/austin/austin-among-metros-in-the-us-with-steepest-rent-declines/

 

[Charles West]

The Sacramento region is still looking healthy, modest appreciation gains of 4.5% with more properties coming on the market this buying season than in the last 4 years.

 

[gregb]

The Sacramento region is still looking healthy, modest appreciation gains of 4.5% with more properties coming on the market this buying season than in the last 4 years.

Cannot access your pdf but assume it looks similar to this-

 

[Charles West]

For some reason, I can't copy and paste the Trendvision data. I'll try and convert the pdf to a jpeg image.

 

[Charles West]