The home price correction in your local housing market, as told by two interactive maps

The real estate boom of the pandemic saw US home prices soar 42%. In the future, some of those gains will be erased. On Tuesday, homecoming price correction finally appeared in the Case-Shiller US National Home Price Index, as the July reading was 0.24% lower than the June reading. That marks the first month-over-month drop … Read more

The fundamental reason house prices will fall this fall

The prices that people expect tomorrow influence today’s demand and supply. Economists say that “fundamental” economic factors, such as interest rates and family income, determine home prices. For some unknown reason, economists don’t consider people’s expectations of future house prices to be a major factor in determining current house prices, but they should. Economists have … Read more

Zillow forecast: Home prices to fall in these 259 housing markets—while 616 markets go higher

Back in 1981, the New York Times published an article titled “the coming [Housing] The collapse is already here.” The premise of the article was that the Federal Reserve’s fight against inflation, which pushed mortgage rates at a peak of 18%—the nation’s housing bubble was about to burst. In the end, while home sales and … Read more

Housing market peaked, now in correction: Moody’s economist Mark Zandi

moody’s Analytics Chief Economist Mark Zandi is ready to give you a call. He says Fortune that we have officially gone from a housing boom to a “housing fix.” “The housing market has peaked…everything points to a turnaround in the housing market,” says Zandi. “In terms of home sales, they are falling sharply. Housing demand … Read more

Speedy escape from housing market slump unlikely: ARMs tied amid low rate lock-up

Home sales, construction volumes and now even home prices in many markets (the last shoe to drop in a housing correction) are falling. Clearly, the fact that mortgage rates have soared from a low of 2.6% in December 2020 to six percent in early September is holding many would-be homebuyers in the grips. The last … Read more

Housing analyst who called 2008 crash sees home prices falling in 2023, 2024: ‘Poison’ Ivy Zelman

“Poison Ivy.” That’s what housing bulls called analyst Ivy Zelman after she came out in 2005 and called the top of the housing bubble. When toll brothers CEO Bob Toll tried to say that the housing market had bottomed out in 2006, Zelman joked again, “What Kool-Aid are you drinking, because I want some.” Of … Read more

Homes prices in these cities could drop 10%, Moody’s says

A housing market crash seemed all but assured two years ago. At the time, it made sense: Strict state-issued lockdowns had pushed the US unemployment rate to an all-time low. highest level since the Great Depression era, and many states had banned in-person home showings. However, there was no real estate collapse. Both Congress and … Read more

Zillow: Home prices to fall in these 123 housing markets—while these 780 markets go higher in 2023

That sharp contraction in the US housing market, something both the National Association of Realtors and the National Association of Home Builders are calling a “housing recession”—has caused economists to reconsider their housing forecasts for 2023. On Thursday, Zillow became the first real estate firm to use July’s sour housing data to reset its outlook. … Read more