Despite Ultra-Low Mortgage Rates, New House Prices Drop to Multi-Year Low

Last time prices fell like this was during the Financial Crisis. But now, there is no crisis.

The median price of new single-family houses in September fell 8.8% from a year ago to $299,400 – down 12.8% from the peak in November and December 2017 and back where the median price had first been in November 2014, according to the Commerce Department this morning:

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