On Friday, residential real estate brokerage firm Redfin released new data on home prices, showing that prices fell 0.6 percent in February, year over year. According to Redfin’s numbers, this was the first time that home prices actually fell since 2012.
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Analysts expected Case-Shiller Home Price acceleration to slow modestly in May (the latest available data in this heavily lagged and smoothed data set) and they were right but the slowdown is still almost comedic.
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As costs of home ownership rise, millions of Americans have been pushed out of the housing market, according to Harvard University’s annual State of the Nation’s Housing Report released Wednesday.