“Home Prices Drop by Sharpest Rate Ever”
Not really. As we have been tracking, cities that are not being inundated with new immigrants are seeing their real estate values rise, not fall. Dallas is an exception because of high oil prices. I do not have an explanation for Portland and Seattle, but their losses are negligible (0.2% for the month).
This is a good time to buy real estate in rural areas. Rural real estate is now safer than cash.