In today’s video we talk about the 10 housing markets most in danger of experiencing a housing crash. With inventory ballooning in some markets, it’s starting to create a housing market bubble in some markets.
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Redfin Article: https://www.redfin.com/news/metros-recession-risk-housing-downturn-2022/
A Real Estate market correction isn’t something that happens over night. Before a housing market collapse can occur, there needs to be a serious build up of inventory creating an imbalance between supply and demand.
Up until April of this year, we’ve experienced a housing market that has just sky rocketed upward due to extremely low inventory and record low mortgage rates. This has caused in many experts opinion, a housing bubble however in April, mortgage rates started going up rapidly and are now more than double what they used to be. According to the latest housing market news, this has put us in a position where transactions have drastically slowed down and inventory especially in certain markets is starting to grow very fast. This has caused people to wonder will housing market crash? Will inventory continue to pile up and cause a property crash. Whilst it is possible that house prices crash, it’s not likely that it happens nationwide. Most housing market predictions are calling for a slow down in growth and not any declines whatsoever. But certain markets are positioned for price declines more so than others and so Redfin has put their Housing market forecast of 10 houses that most likely to experience price declines during an economic recession. In this housing market update, you’ll see where current inventory and price drops are at compared to earlier this year. So is there a real estate crash coming? Not nationwide but keep an eye out for a possible housing crash coming in these 10 markets according to Redfin’s real estate market forecast
#HousingCrash #HousingMarket #HousingBubble