Will house prices go down in philadelphia?

Philadelphia's appreciation rates remain among the highest in the country, including the largest metropolitan area, where the monthly supply has dropped to 1.1 months. The CEO of Rotelle Development Company, Peter Rotelle, which builds custom homes for half of the suburban market, says: “With supply chain problems, coupled with rising interest rates and inflation, it's really difficult to get affordable housing. This has become a problem, prompting Philadelphia city officials to remove their concerns and developers to promote plans to produce more affordable housing without having to bypass federal government obstacles.