However, GOBankingRates spoke with several real estate experts to get their thoughts. There’s no way to know for sure what will happen with home prices this year.

However, you’re probably not too excited about this if you’re planning to sell a property this year. Undoubtedly, this is music to your ears if you’re looking to buy a home. This represents a 1.2% year-over-year price drop. Some of the top cities possibly headed for a decline in home prices include Phoenix (18%) Stockton-Lodi, California (13%) Las Vegas (13%) and San Diego (12%).Īs of February, the median sale price in the U.S. However, it predicted certain parts of the country could realize double-digit drops. Nationally, home prices may drop by 5% this year, according to a recent study by the University of California San Diego’s Rady School of Management. Learn: Dave Ramsey’s 7 Tips for Paying Off a Mortgage FasterĪlso See: 3 Things You Must Do When Your Savings Reach $50,000 If you’ve been trying unsuccessfully to purchase a home, this will certainly come as welcome news. The long-awaited buyer’s market might finally make its debut this year.

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