The housing market just split in two: Prices are falling out West and soaring in the Northeast

The housing market is experiencing a dramatic split between the West and the Northeast, with prices in the West plummeting by 7.3% since 2022 while the Northeast sees a surge of 12.6%. This divergence is even more striking when considering the national median sales price reached an all-time high of $440,600 in June, highlighting regional economic disparities. The West's declining prices likely reflect a cooling market and economic shifts, while the Northeast's rising prices could be tied to high demand and economic growth. This regional divide underscores broader economic trends affecting different parts of the country.