The turbulent story of America’s housing market has yielded yet another surprise twist.
After steadily climbing to the record-shattering apex of $450,000 in June, home prices are at long last taking the plunge. From July to August, national prices dropped from $449,000 to $435,000, their most significant month-to-month plunge in data history dating back to 2016, according to a new report by Realtor.com®.
Granted, home prices in August are still up annually by 14.2% from a year earlier. But weary homebuyers may see a further break in the clouds come fall, which is generally the best time to buy a home.
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