Home prices

Despite rate hikes, only 3% fail to profit but local exceptions may continue to increase.

But some of the noise beneath the data suggests a possible transition might be underway, according to analysts.

But in the Mountain and Pacific regions, values ended the most recent period lower than where they were one year prior.

Sen. Robert Peters, D-South Shore and Rep. Debbie Meyers-Martin, D-Matteson will spearhead the endeavor.

Houses in the northeast and midwest got more expensive. In the South and the west, prices dwindled, according to the organization's Metropolitan Median Area Prices and Affordability report.

A shortage of listings has pushed up prices, boosting the total value of US homes to a record $47 trillion, Redfin reported. 

Active listings fell in July on an annual basis, while median home prices also showed signs of a downward trend, according to new data from Realtor.com.

Values are very likely to dip in the metros considered among the most desirable during the pandemic.

Some have moved to appeal their property assessments, with counties in Maryland like Dorchester, Somerset and Garrett seeing the rate of homeowners petitioning home values jump 987%, 827% and 454%, respectively in 2023.

The mortgage industry may be largely in the dark about the process, which could save homeowners potentially thousands of dollars a year.