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Zillow's "multiple downward revisions" suggests that the housing market in the USA is cooling down?
Zillow, the largest Real Estate platform in the USA, has repeatedly lowered its housing price expectations. In March, it predicted that housing prices in the USA would increase by 0.8% over the next year, but in April, it shifted to a bearish outlook and projected a decrease of 1.7%. Zillow pointed out that high housing prices and mortgage rates are suppressing home-buying demand, while the increase in listings provides buyers with more room for negotiation.
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