Nearly one third of the largest 100 markets are now showing annual price declines, according to ICE, a mortgage technology firm. Inventory has been rising steadily over the past year, up 29% in June compared with the same month last year. Prices are still seeing big gains in the Northeast and Midwest. A sign is posted in front of a home for sale in San Rafael, California, on Aug. 7, 2024. Justin Sullivan | Getty Images
Over-inflated home prices, high mortgage rates, rising supply and falling demand are all joining forces to cool the nation’s housing market.
Annual home price growth in June was just 1.3%, down from 1.6% growth in May and the slowest rate in two years, according to ICE, a mortgage technology firm.
Nearly one third of the largest 100 markets are now