Why it matters
Lower prices may help some prospective buyers, but borrowing costs above 7% continue to weigh on affordability. The reported change may also affect homeowners and sellers, though the article provides no details on the size or geographic reach of the decline.
What happens next
The article gives no forecast or next policy decision; it is unclear whether prices will continue to fall.
Whether home prices continue to decline
Whether mortgage rates ease or remain above 7%