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Home prices could fall 20% by next year as mortgage rates hammer market: economist

Por: New York Post Business October 21, 2022

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US home prices could plunge as much as 20% within the next year as soaring mortgage rates bring , a prominent economist said Thursday. Existing-home sales declined for the eighth consecutive month in September, falling 1.5% month-over-month to an adjusted annual rate of 4.71 million, according to . The slump is the longest since 2007. Sales are down nearly 24% compared to one year ago. With mortgage rates surging toward 7%, there is still “no... + full article



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