Bloomberg Wealth: Sky-High Housing Prices Look Back Down to Earth

Homeowners looking to sell at record prices are starting to face reality.

Have you seen asking prices slashed in your area? Almost 20% of US home sellers cut prices in the four-week period that ended May 22, the most since before the pandemic. In Canada, some buyers are losing money on their properties before sales even close because of value drops. Prices could fall 5% a year by the middle of next year, according to this forecast from Capital Economics' Matthew Pointon.