The Housing Price Gap Is Converging for the First Time in a Decade

Housing price declines are concentrated in higher-priced areas and are causing U.S. price levels to move closer together Quick Takes: In November 2022, the regional price differences between median housing prices[1] in the 20th and 80th percentile shrunk by 11.2% from the peak in July 2022.This is the first time the price spread has converged…