home prices 2022

Zillow: The 30 housing markets had a drop in house prices in July … but don’t call it a housing crash

[There is nothing small about the downward revision of 5.4 percentage points in one month. For a $500,000 home, this wipes out $27,000 in the expected rise in home prices. Such a revision only occurs if the expected input is strained. “Zillow’s home price outlook has been revised significantly due to the sharp downturn in …

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The housing market enters a recession – here’s what to expect next

[On Tuesday, we learned that home builders unlocked land for 982,000 single-family homes in June. That’s down 19% since February, and down 16% from the same month in 2021. Although it’s not a “blast,” it is clear that construction companies are downsizing. Historically, this is exactly what happens when the housing cycle reverses: As the …

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Redfin: These housing markets are most at risk of falling home prices

Homebuyers had had enough. Soaring mortgage rates to a record high of home prices – which have risen 42% since the start of the pandemic – have pushed monthly mortgage payments beyond the reach of tens of millions of potential buyers. As more buyers check out the rain, the housing market correction becomes more severe. …

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