Home Prices Are Not Cratering—Even as Buyers Exit the Market

Home Prices Are Not Cratering—Even as Buyers Exit the Market

The U.S. housing market is behaving peculiarly, says Jim Righeimer, a former Costa Mesa, California, mayor and lot developer. While homebuyers are leaving the market, home prices are not falling. Real estate platform Redfin reports that home prices ticked up just 0.2 percent in November. At the same time, the U.S. housing market has 37 percent more sellers than buyers. Neither side is conceding an inch. “We have a very unusual marketplace,” Righ…