Home Prices 2023

Home Price Correction Intensifies – What to Expect from the US Housing Market in 2023

This, of course, is what we see now. Despite favorable demographics and tight inventory levels, pressing affordability – high mortgage rates combined with buttery home prices – is beginning to drive home prices lower. In fact, this week we learned that US home prices, as measured by the US Case-Shiller National Home Price Index, posted …

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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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Quick escape from housing market slump unlikely: ARM hooks amid low-rate shutdown

Home sales, building volumes, and even home prices are now in many markets (the latest in the housing correction) declining. Obviously, the fact that mortgage rates rose from 2.6% in December 2020 to six percent in early September has shackled many potential homebuyers. The last time mortgage rates spinned down to just 5% was fall …

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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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