Why are home prices Falling?

They are falling because the Fed is trying to lower inflation by raising interest rates. As the interest rates rise it becomes unaffordable for more and more people to borrow money to buy homes. Naturally, as people see that they cannot sell their houses for the amount that they want they will realize that if they need to sell those homes that the ONLY way they are going to sell them is to lower their prices. Others who are willing to wait for higher prices will simply wait who aren't in such a rush to sell their homes.