June 13, 2022

BUBBLE STARTING TO POP? Home prices have begun falling in these 10 cities, according to Realtor.com.

Related: These 40 ‘overvalued’ housing markets could see 15% to 20% home price declines if a recession hits. “Already we’re seeing the U.S. housing market shift. As data rolls in for May and June, it’s clear that the pandemic’s housing boom has finally fizzled out. New home sales, existing home sales, and mortgage applications are plummeting. That’s forcing some sellers to do what three months ago would have sounded absurd: They’re cutting their price. Last week, 6.44% of home listings on Zillow saw a price cut—the highest weekly share of price cuts in more than five years.”

“If.” The Economy Already May Be in Recession.

UPDATE: Mortgage demand at 22-year low as interest rates climb.

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