Home prices have slightly decreased compared to last year, with a 1.4% drop in the last three months. National home prices have remained positive since mid-2023, after the Federal Reserve raised rates and mortgage rates increased. Certain markets are seeing more significant price drops, while others are experiencing gains. Inventory is still low, but not as low as in recent years. Builders have reported weak demand and the need for incentives, with homebuilder sentiment in negative territory. Mortgage rates have not changed much in the last three months and are unlikely to have a significant impact on home prices.

Read more at CNBC: Home prices go negative for the first time in over 2 years