Reply to Why do expert say: Buckle in for a brutal free-fall in home prices

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]JP announced yesterday that they are slowing the pace of rate increases.  Stock market is surging on the news. [/quote]

slowing but still increasing.  [/quote]

THIS! The people here stating that interest rates are going anywhere but up are delusional. Also, the economy generally gets a short-term uptick this time of year due to holiday spending. A good few weeks doesn't mean we're escaping the bad economic times.[/quote]

I don't think they're going down anytime soon (and maybe never back down to where they were), but the biggest hikes are likely over.  More modest hikes/stabilization going forward are not likely to lead to a "brutal free fall" in prices[/quote]

I don't think there will be a brutal free fall but I don't think we've yet seen the full impact of the rate increases on prices.  So it all remains to be seen.  Spring is going to be very interesting![/quote]

Agreed. Prices will continue to drop. Most people who thought they might sell already did. In 2023 we'll start seeing more homes come on the market because life happens. A return to 2019 prices or a little higher isn't what I would call a brutal free fall. I don't think anyone here thinks we're going back to 2010 prices.[/quote]

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