Real Estate Rundown September 2022

September 01, 2022

Photo by Sigmund via Unsplash

The real estate industry news headlines point toward what experts are coining as the “Housing Recession.” Many homebuyers are struggling to become owners due to high mortgage rates, and this struggle is compounded by experts citing that homes have not been this unaffordable since the late 80s. Finally, Forbes compiled some fascinating studies outlining the state of U.S. markets, including markets that may be most vulnerable to a recession. 


Impact of High Mortgage Rates 

High rates hurt buyers more than high home prices. According to a NAR researcher - higher borrowing costs have triple the impact on monthly mortgage payments.


Housing Market Growth?

According to NAR, homes haven’t been this unaffordable since 1989. Pricing may change; however, on Tuesday, August 30, 2022, CNBC reports that Goldman Sachs predicts a sharp slow in the housing market in the coming quarters.


U.S. Cities Seeing Most Rapid Home Price Drops

Forbes provides a fascinating compilation of a few reports, surveys, and studies on the housing market. What comes up must come down, or in the housing market’s case, what heats up, must cool or slow down eventually. These stats start to hint at just that. 





Check out the full article here for the methodology of the studies or surveys and more detailed stats and projections. 


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