U.S. Home Prices Drop at Fastest Pace Since Great Recession
U.S. home prices have just made their most significant drop since the Great Depression.
According to New York Post, median home prices fell by 0.98% from July to August, according to Black Knight’s August Mortgage Monitor report. Revised data showed an even sharper 1.05% decline from June to July.
“Together they represent two straight months of significant pullbacks after more than two years of record-breaking growth,” said Black Knight Data & Analytics President Ben Graboske.