Housing Market is ‘Overly Sensitive’ to Fed Rate Hikes. Experts Weigh In On What’s Next.

USA Today, March 22, 2023–Swapna Venugopal Ramaswamy (subscription)
Exactly one year after the Federal Reserve began raising interest rates last March to slow down inflation – after slashing it to zero in March 2020 – home prices fell for the first time in 131 months. With that, the longest price growth streak on record was halted as the median existing-home price for all housing types declined.