Home prices are plummeting everywhere but the US. Blame America's favorite mortgage.

Home prices are falling in the United States, but compared to the rest of the world, US buyers are barely getting a break at all. In February, US home prices declined year-over-year for the first time since 2012, according to a National Association of Realtors report. The median existing home price fell to $363,000 in February, a 0.2% decline from a year prior. But compared to homebuyers across the globe, Americans have much less reason to celebrate. That's according to a March OECD report, which measured how much housing prices in 11 countries have fallen since their most recent peaks — rather than on a year-over-year basis like the NAR data. To continue reading the rest of the article, please click on the source link below: https://www.businessinsider.com/home-price-decline-in-us-nothing-compared-to-europe-world-2023-3