Are home prices in a freefall? 🤔 Most of us think that what goes up must come down, but will the market actually crash and how low will prices go?
🏡 The main cause for prices cooling off is higher interest rates, which has reduced the demand for real-estate and also impacted the stock market.
Institutional investors are also on the look-out for properties at a discount. 💰 On the supply side however, there are not enough single-family homes to meet the needs of all those wanting to buy.
🏘️ This is because not enough homes have been built in the last decade to keep up with the current household formations. 📉
So in the end, our data suggests that we may have further declines, but there is more of a supply constraint and higher demand. 📈
We'll just have to wait and see what happens, it doesn't look like things will drop too much further. Follow me for more real estate and finance tips.
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