Home prices could fall drastically in the coming months, economists have predicted, as residential real estate continues to grind to a halt due to higher mortgage rates and low inventory.The forecast comes as existing home sales have fallen for nine straight months - a trend that is likely to persist, data shows, as homebuyers facing rapidly continue to shy away from the market. The national median existing-home price for all housing types reached $379,100 - up nearly 7 percent from a year ago.
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