Historically speaking, home prices rarely decline on a year-over-year basis. Unless economics forces sellers' hands, they usually won't pull back.
Of course, we've recently seen the U.S. housing market slip into one of those rare periods where national home prices are indeed falling—with U.S. home prices down 2.5% between June and November—and just months away from seeing home values negative on a year-over-year basis for the first time since the housing crash bottomed in 2012.
