MaxPixel
"Up until the beginning of next year, we anticipate the fall in home sales to last. By that time, the majority of purchasers will be left on the market, including those moving for family reasons, changing employment, etc," the economist is convinced.
As mortgage rates soar, other buyers who purchased houses for less compelling and/or speculative reasons are leaving the market.
The COVID-19 pandemic caused a record-breaking rise in U.S. housing prices. U.S. home values increased 18.8% in 2021 alone, according to the S&P CoreLogic Case-Shiller Indices of the S&P Dow Jones Indices. Since such calculations started in 1987, that set a record. Analysts believe a number of reasons contributed to the unprecedented rise in residential real estate prices.
source: cbs.com
As mortgage rates soar, other buyers who purchased houses for less compelling and/or speculative reasons are leaving the market.
The COVID-19 pandemic caused a record-breaking rise in U.S. housing prices. U.S. home values increased 18.8% in 2021 alone, according to the S&P CoreLogic Case-Shiller Indices of the S&P Dow Jones Indices. Since such calculations started in 1987, that set a record. Analysts believe a number of reasons contributed to the unprecedented rise in residential real estate prices.
source: cbs.com
