Home prices have not gone negative since mid-2023, a year after the Federal Reserve first brought rates up from zero, and mortgage rates moved sharply higher.
source https://www.cnbc.com/2025/12/11/us-home-prices-negative.html
Home prices go negative for the first time in over 2 years — and may stay that way for a while
December 11, 2025
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Home prices go negative for the first time in over 2 years — and may stay that way for a while
Housing Market