he U.S. real estate market is experiencing a downturn.
Recently, major U.S. real estate indicators have been signaling a market downturn. According to the S&P CoreLogic Case-Shiller Home Price Index, released by Dow Jones, home prices rose 3.4% year-over-year. However, this figure fell short of Dow Jones’ forecast of a 4.1% increase and was also lower than the 4% rise recorded in April of the previous year. This indicates that home prices in the 20 major U.S. cities have been steadily declining since peaking at 7.5% growth in February of last year. Contrary to market expectations, with mortgage rates hovering near 7%, buyers are stepping back from the market, and inventory is steadily increasing. The Federal Housing Finance Agency (FHFA) House Price Index, which tracks price fluctuations of privately-owned homes based on mortgage data from Fannie Mae and Freddie Mac, also fell 0.4% month-over-month to 434.9. This decline is the largest in 2 years and 8 months, since August 2022, and significantly missed market expectations, which anticipated a 0.1% increase.…
