Coming out of the pandemic shutdown lit the match for housing demand, and it’s been burning hot for nearly two years straight — but a housing correction is finally on the horizon.
Two-thirds of the nation’s largest housing markets are overvalued, according to a report by Moody Analytics, an economic research firm regarding risk, performance and financial modeling.
The report found 210 metro areas were overvalued by 25% or more. Within that stat are 10 Michigan markets.
According to national property broker Redfin, the total worth of U.S. homes hit a record $46.8 trillion in June 2023. This overtakes the prior all-time high of $46.6 trillion set a year earlier, as a […]
The post U.S. Housing Market Stalls as Mortgage Rates Edge Up Again appeared first on Weekly Real Estate News.
Housing starts rose in November, significantly beating expectations. New construction rose to a seasonally adjusted annual rate of 1,560,000, according to the U.S. Department of Housing and Urban Development and U.S. Census Bureau data. It’s […]
Copyright © 2024 | MH Magazine WordPress Theme by MH Themes