The Odds of Regional Home Prices Dropping Over the Coming Year

We’re already seeing the U.S. housing market slow down in the face of spiking mortgage rates. Mortgage applications are declining, fewer listings are getting multiple offers, and inventory levels are rising again. However, that’s a deceleration—meaning prices are going up at a more modest rate—not a price correction. In April, CoreLogic looked at 392 U.S. markets and found that 17 regional housing markets had a greater than 40% chance of seeing local home prices decline over the next 12 months. Currently, the areas surrounding the Denver metro area and stretching up to northern Colorado along the I-25 corridor have a “very low” (or 0-20%) probability of seeing an overall price drop in home prices in the coming year. Click here to see the whole article and interactive map.