Persimmon shares have fallen 60% from their June 2021 highs and are 20% lower than they were in April 2020. With multiple interest rate hikes hurting consumer confidence and mortgage approvals lagging, the housing market has struggled. However, with the International Monetary Fund predicting that interest rates will fall to pre-pandemic levels and inflation to stabilize by early 2024, the trend could reverse. Past records show that consumer confidence can boost home sales once again. In the meantime, Persimmon shareholders have experienced a decrease in dividend yield from 235p to 60p earlier this year, which is still above the FTSE 100 average. The company expects to sell 9,000 homes this year, pointing towards positive trends. The question remains whether the good times will return and the stock will reach the PS30 levels it had seen before.

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