The likelihood of a housing crash just got worse. We got inflation numbers back and they were worse than expected raising concerns for a potential housing crash coming.
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The housing market bubble has popped but the question has been how much will house prices crash? This housing market correction has been largely due to affordability plummeting largely caused by surging mortgage rates which has lead some experts to call for a real estate crash as part of their housing market predictions. Whilst there’s no certainty at this point that we’ll see a nationwide housing market crash in 2022, the FED is facing a much harder battle than anticipated leading many experts to predict more aggressive actions from the fed leading to more rate hikes and a gloomy housing market forecast. According to the latest housing market news, we have been seeing pending sales decline along with supply rising and purchase applications declining. Many lenders are expecting rates to continue to rise as part of their real estate market forecast and that is what has led many to wonder will the housing market crash? Well according to the latest housing market update, new sales are also crashing which is limiting the amount of listings hitting the market. Sellers are sensing now is not a good time to sell and many are looking to rent their house instead. Either way, the economy is looking like it’s beginning to slow down and if that gets worse and we see unemployment levels rise along with demand continuing to out pace this lack of new listings, we could possibly see a property crash on a nationwide level.
#housingmarket #housingbubble #housingcrash