Loans101

May 2023 brought 4.30 million in sales, a median sales price of $396,100, and 3.0 months of inventory. http://spr.ly/6185OC22l

I don't think many people realized how good they had it with 2 or 3 percent rates!

Red Lights Flashing on the housing market: 🚨🚨🚨

Business Insider: "Buckle in for a brutal free-fall in home prices and US housing is in a massive bubble, experts say. Here's how bad Jeremy Siegel, Paul Krugman and 5 others think it could get."

Buckle in for a brutal free-fall in home prices and US housing is in a massive bubble, experts say. Here's how bad Jeremy Siegel, Paul Krugman and 5 others think it could get. "There's going to be a coast-to-coast downturn in the housing market. It's going to be brutal. No part of the market is immune," a Moody's economist said.

Yikes 😲

U.S. home prices could fall as much as 20% next year Economists expect home prices to slide sharply in 2023 as soaring mortgage rates chase away buyers.

Are you experiencing any of these housing market challenges in your area?

Yahoo Finance

This week in Bidenomics: Housing smashup The housing market is now the worst of all possible worlds: Affordability is terrible, but sagging demand hasn't yet brought prices down.

Redfin: Home Sales & Listings Plunge 20%

Home Sales, Listings Plunge Over 20% in September—Most on Record Aside From Pandemic Start Redfin reports about 60,000 deals were called off, equal to 17% of homes that went under contract—the highest share on record aside from March…...

Food for thought. Pretty devastating!

Mortgage rates just hit a 20-year high. How's the housing market doing in your area?

Mortgage Rates Hit 6.92%, the Highest in 20 Years Mortgage rates have more than doubled this year as the Federal Reserve has moved to combat inflation.

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What rates are you getting?

Mortgage rates hit 6% for the first time since 2008, while applications fall to lowest level since 1999 Mortgage applications fell again this week, the Mortgage Bankers Association said, with homebuyers staying on the sidelines as interest rates rise.

Is America on the verge of a house price collapse? 😲

"-Boise, Idaho; Charlotte, North Carolina and Austin, Texas were the three most overvalued areas in the United States, according to Moody's Analytics

-Moody's found that found that 183 of the nation's 413 largest regional housing markets are 'overvalued' by more than 25 percent

-If a recession hits, house prices in those 183 regions could plummet by as much as 20 percent, Moody's predicted

-If there is not a recession, they will still fall 10-15 percent, the analysts believe - echoing other experts

-The housing inventory is at its highest level since April 2009, as sellers struggle to get rid of their property because mortgages have become more expensive

-Mortgage rates have nearly doubled since January, rising to 5.13 percent for a 30-year loan as of last week, according to Freddie Mac"

Is America on the verge of a new housing collapse? Boise, Idaho; Charlotte, North Carolina and Austin, Texas are the three most overvalued places in the U.S. for property prices, according to Moody's. They expect prices to plummet.

Existing-home sales downturn flashes housing recession warning "We're witnessing a housing recession in terms of declining home sales and home building"