Housing Prices Drop Amid High Rates | Phoenix News

The Fed holds rates steady, sparking a housing market shift: median home prices plunge 2.5% year-over-year to $430K—the steepest drop since 2017. Sellers adjust, but high mortgage rates keep monthly payments over $2K, making affordability stubbornly tough. Despite fewer price cuts, pending sales rise for seven months straight, and new listings climb, signaling seller confidence—even as homes linger on the market for 53 days. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/886536a980723ba7