¡°We will see house prices continue to 3weaken in different parts of the country, now of course, house prices rose very 4strongly during much of the pandemic. And we¡¯re just 5retracing some of those price gains.¡±

According to the National Association of Realtors, the price for a single-family 6median home increased 4 percent in the fourth quarter from a year ago, to more than $378,000. But their data also revealed in some markets, prices are actually declining. 

San Francisco had the biggest price drop in the country, down 6.1 percent from a year ago, and 21% lower from its peak. A similar 7decline in nearby San Jose, California which was the most expensive place to purchase a home in the US in the fourth quarter with a median price of more than 1.5 million dollars. The latest data finds that price is down 5.8 percent from a year ago and 17% off its peak.

¡°But 8nonetheless, for, you know, folks that have bought a home in the last 6, 12 months, it¡¯s gonna be somewhat 9painful because they¡¯re gonna see the value of their home fall, you know, here pretty 10significantly.¡±

In Southern California, home prices in Anaheim were down 1.6 percent from a year ago. And in Los Angeles, prices are down 1.3 percent. Outside of the Golden State, several cities also saw declines including Boulder, Colorado, down 2 percent. Boise, Idaho where prices fell 3.4 percent. And Austin, Texas where prices are down 1.3 percent.