Economics
Home Prices in U.S. Poised to Slide Following Surprising Rally
- CoreLogic sees 20% plunge in Las Vegas with tourism collapsing
- Nationwide drop would be first annual price decline since 2012
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The U.S. housing market surprised economists by rallying in the midst of a pandemic. But the coronavirus may drag down home values after all.
Prices will fall about 6.6% in the year through May 2021, the first annual decline since 2012, as the economic damage from the pandemic deepens, according to a forecast by CoreLogic Inc.