US home prices seen rebounding after an expected 1 trillion plunge this year

U.S. residential real estate may lose close to $1 trillion in value this year, but that loss will be transient as home prices are expected to rebound, according to a new poll. Respondents expect prices to fall 2% nationally this year, which implies that the value of the U.S. housing market will fall to $46.9 trillion from $47.9 trillion at the end of 2022, per results of the poll conducted by housing analytics firm Pulsenomics. While they see a meager gain of just 1.2% in 2024, the recovery will pick up steam in the following three years, when prices are…