There’s a growing chorus of experts calling for substantial home price declines Home prices are still increasing despite a cooling housing market. But price declines lie ahead, many experts argue. Insider recently spoke with three experts calling for median home prices to fall. The housing market is starting to cool off in a big way thanks to skyrocketing mortgage rates this year. Homebuilder sentiment is at its second-lowest level in 37 years thanks to tanking demand — existing home sales were down 14% in June, year-over-year. Still, home prices have yet to take a hit. The median price of homes sold in the US hit an all-time high of $440,300 in the second quarter. Foto: Federal Reserve Bank of St. Louis But price declines are coming, according to a growing chorus of economists and industry experts. Recently, Insider profiled the views of three experts calling for median home price drops ahead. An investment analyst at a $31 billion firm says home prices are due to fall back toward their pre-pandemic levels — and shares 3 cities where declines will be among the worst in the country Homes in Austin, Texas.