US home prices are falling and a wave of new rental supply is set to make it worse for sellers, which is good news for buyers willing to wait.

• Commercial real estate loans going unpaid have jumped past 12%, driven by empty offices and store closures as chains like Starbucks, 7-Eleven and Dick's shut locations.
• Private equity firms built a flood of new apartment complexes, so rents are now falling nationally.
• Cheaper rents pull frustrated would-be buyers into year-long leases, draining demand and leaving more homes stuck on the market.
• Price per square foot is down 20-30% in some areas from a year and a half ago, even where homes still look like they're selling fast.
• Aging baby boomers passing away is adding "heirloom" homes to the market as heirs who already own homes sell quickly.

Outlook: The second half of this year is expected to bring a surge of listings and few buyers, pushing home prices lower.