On: U.S. home prices are the most unaffordable they've been in nearly 100 years

[OrvalWintermute]

In my HCOL area we are already seeing prices nosedive after they sit on the market for a few months.

The discounts are around 15% off peak, and this is just the start.

[bnjms → OrvalWintermute]

And this will result in prices rising or remaining flat in MCOL areas.

[dalyons → OrvalWintermute]

Which area is that?

[OrvalWintermute → dalyons]

Northern VA

We generally see closing in a week in our neighborhood of 1M to 2.2M homes with multiple competing offers, or sold before actually for sale.

My take is that this is driven by listings coming out at peak prices, but with some softness in the market and increasing rates, tepid demand.