Source: Electric City Magazine —
This, of course, is what we see now. Despite favorable demographics and limited inventory levels, affordability is under pressure –Mortgage rates rise Coupled with rising house prices – I started driving home prices down. In fact, this week we learned that home prices in the United States are measured by Case-Shiller home price index in the United States It recorded its first monthly decline since 2012.
Across the country, the US housing market — which has been priced at mortgage rates of 3% while it Pandemic housing boomIt is working to achieve a balance in the face of mortgage rates of 6%. But we are still in the first rounds. And the Constant correction of house prices It did not reach all markets: between May and August, Home values in San Jose fell 10.6% while home values grew by 2% in Orlando.
To better understand where Housing downturn in the United States Heading next – and if the house price correction hits more markets soon –luck I reached out to Zonda’s chief economist, Ali Wolf. When she’s not traveling across the country talking to home builders, she’s traveling Advise the White House on housing issues.
