Home Prices Could Fall Faster, But It’s Up To Your Neighbors

Buyers waiting on the sidelines to purchase a home are waiting for two things to happen: A reduction in mortgage interest rates, and a reduction in home values.

While the Federal Reserve’s hikes to their Fed Funds rate will determine where interest rates go, the expected reduction in home values largely relies on their owners.

According to Kieran Clancy, senior US economist at Pantheon Macroeconomics, the rate of decrease in home values might accelerate if previously reticent sellers begin…

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