The 30-year, 15-year fixed-rate mortgage is nothing exotic, nothing complicated." ![]() "Lending has been very good since the financial crisis. In the physical market, vacancy rates are pretty close to record lows and for the sale market they are at record lows," Zandi said. "I don't think we're going to see a crash for a number of reasons," Moody's Analytics chief economist Mark Zandi told Newsweek. To some, this situation indicates the possibility that the market could crash, starting with these 11 states.īut Moody's Analytics top economists believe that a correction of the market is coming, rather than a crash. Powered by a severe housing shortage -fueled by the lingering consequences of the 2008 financial crisis and the pandemic- and the migration of people moving across the country thanks to the possibility of working remotely, in much of the nation, and especially in these 11 states, homes are overvalued.Īccording to Moody's Analytics, homes are now even more overvalued than they were during the 2000s housing market bubble. While in many states, home prices have risen by less than 12.5 percent, in 11 states home prices have soared by over 20 percent. ![]() But while prices have increased everywhere across the nation, the changes have not been the same in every state. In the first quarter of 2022, home prices have surged by 16 percent on average across the country, according to Moody's Analytics. This slowdown, which could eventually bring home prices down, could also go into a completely opposite direction, one that economists dread: a market crash. housing market is starting to slow after months of record-high home prices, surging mortgage interest rates and a lack of inventory that has forced buyers into merciless bidding wars.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |