Home prices could start falling as soon as the end of summer, one strategist predicts.
That's due to a sharp rise in unsold homes, with inventory climbing 16% year-per-year in April.
That's the highest increase in unsold inventory recorded since the Great Financial Crisis.
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That's according to Brian Nick, a senior investment strategist at Macro Institute, who's calling for a drop in home prices that could take place over the next three to six months.
Persons:
—, homebuyers, Brian Nick, Nick
Organizations:
Service, Macro