Sorry, homebuyers. Houses are still expensive, and will likely stay that way for a while.
Home prices in the US just posted their first annual decline in more than a decade — and some bearish pundits and real-estate investors are taking it as a sign of more dire drops to come, predicting a bubble burst or even a crash.
But in a roundtable discussion with Insider reporters, Zillow’s chief economist, Skylar Olsen, said that you shouldn’t expect home prices to drop much further in most areas. She said it boils down to a lack of inventory: The number of homes for sale is still too low.
"I really don't know where the inventory comes from to help prices come down,” she said.
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