is still in the Rage Choose Your Cage T-shirt On the whole mid-5% range. Just 6% of those surveyed think mortgage rates will fall, while 67% said they expect rates to rise further. What’s behind the recent drop in housing prices? AUG. 3, 202202:50 Sales of both new and existing homes have been falling sharply over the last few months, as affordability weakens and consumers worry about inflation and the broader economy. Recommended CONSUMER Coca-Cola’s newest flavor ‘Dreamworld’ supposedly tastes like dreams CONSUMER U.S. Postal Service asks for temporary postage hike for holiday season Big losses in the stock market have also caused demand for higher-end homes to drop. More supply is coming on the market, which is helping a little bit, but inventory is still well below historical norms, especially at the entry level. “With home price growth slowing, and projected to slow further, we believe consumer reaction to current housing conditions is likely to be increasingly mixed: Some homeowners may opt to list their homes sooner to take advantage of perceived high prices, while some potential homebuyers may choose to postpone their purchase decision believing that home prices may drop,” added Duncan.
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