11/16/2022
Zandi, from Moodyβs Analytics, expects prices will fall nationally by about 10% from peak to trough, bottoming out in the summer of next year. Theyβll go down even more in the pandemic hot spotsβsuch as Phoenix; Boise, ID; and Austin, TXβthat experienced the biggest run-ups. Prices in these places could drop as much as 20%. Florida, where the demand from buyers is still strong, could hold up a bit better, he says.