Housing Market Correction Get’s LEGS as Spring Selling Season Coming to an End

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Housing Market Correction Get’s LEGS as Spring Selling Season Coming to an End

The 2023 housing market crash is about to get a second wind as an onslaught of new housing and economic data was just released showing a new tailwind for home price deceleration. We cover the specifics in this video, and highlight some of the new information coming out of the Federal Reserve about what they expect will happen to housing inflation over the rest of 2023 and 2024. Jerome Powell gives his home price forecast which was very upfront and straightforward. We also have new data from the CAR (California Association of Realtors) that shows home prices in the state of California are now down 6.4 percent year over year. Likewise the NAR (National Association of Realtors) also just released their new data as well, which logged a 3.1% year over year seasonally adjusted fall in national home prices.

On top of all of that a major beat on the new housing start data from the US Census Bureau that shows there were more new homes that broke ground last month than we've seen since 2016. We go into all of this as well as use our interactive maps to analyze the new California home price data.

This video is not financial advice.