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Patrice R.B. / NEoWave Editor / 5 Minute Read
On October 10, 2023, Glenn Neely published a public notice, warning NEoWave customers that the median US home price would be going sideways and down for a long time. He shared a chart that he had created using data from the Federal Reserve, which shows median home prices in the US from 1980 to present. This updated chart is below. Take note of the top right portion of the chart. It shows that the October 2023 price collapse was the largest and fastest in US history!
Despite inflation in many other categories, the updated chart shows that home prices continue to drift lower. It appears another sharp decline in prices will occur in the next year or less. Under NEoWave theory, that tells us a new, prolonged bear market has begun in the US real estate market, which should push median home prices below $275,00, within the next 5-10 years (possibly sooner)!
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