Robert Shiller: Home prices will fall and 'cause some pain' | Seattle Real Estate Podcast

The housing market is hot as home prices continue to rise, but Nobel Prize winning economist Robert Shiller predicts prices will eventually drop. "They'll come back down, not overnight, but enough to cause some pain," Shiller told Yahoo Finance Live.

The latest S&P CoreLogic Case-Shiller national home price index posted a 13.2% annual gain in March, the fastest pace prices have risen in more than 15 years. Last week, the National Association of Realtors (NAR) reported the median existing-home price in April was $341,600, up 19.1% from April 2020.

"This is not a market that collapses overnight," Shiller said. "It's less short run volatile than the stock market. But you can see that we're seeing price increases now that haven't quite been realized since those years just before the financial crisis."

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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