Part 4/9:
Despite the increased inventory, selling prices have not experienced a commensurate decline, although there are signs of price cuts in certain markets. The median home price stands at $418,000, which is lower than the highs recorded nearly three years ago. Furthermore, while home prices are up 4.1% year-over-year based on January data, this statistic doesn’t accurately reflect the market’s current state, as prices are relatively flat compared to peaks in 2022.