Housing experts have recently speculated that the laws of supply and demand are beginning to impact market conditions, leading to predictions of a potential correction or crash. As mortgage rates have climbed over the past two years, home sales have decreased while prices continue to rise nationally, making the housing market even less affordable.

Amidst these speculations, data analysis reveals that out of the 150 largest metros in the country, 24 are already experiencing year-over-year listing price declines, with 13 of those also showing a decrease compared to two years ago. Markets with increasing inventory levels and longer time on the market are seen as potential areas where home prices may start to fall in the near future, potentially leading to a broader market correction.

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