Report Indicates Housing Bubble is About to Deflate

TIM THOMAS TIM THOMAS Learn more

House prices increased by around 17% in 2022, even though everything going on in the wider economy suggested the exact opposite should happen.

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This has left many people wondering if we’re in the middle of a housing bubble set to burst any minute now. Are we due a correction? A recent report from CoreLogic suggests this could be the case, but the experts haven’t exactly reached a consensus.

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Everyone scraping together the funds to buy a house in 2020 looked on in panic as the markets seemed to defy all expectations.

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House prices rose higher and higher, even as the world was in peril and many jobs were hanging by a thread. Those who felt reluctant to jump right in felt more pressured than ever to get involved while the federal funds rate (and therefore mortgage rates) still remained low, eager to snap up houses out of the fear that prices would continue to rise at the same exponential rates.

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Fast forward to 2022, and we’re finally seeing some signs that things are changing. The Fed has finally changed its approach by rising rates (up to 0.75% in May 2022), resulting in mortgage rates rising.

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TIM THOMAS

Is the panic and FOMO from the pandemic finally beginning to subside, making way for a correction? One organization thinks so.

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Is the panic and FOMO from the pandemic finally beginning to subside, making way for a correction? One organization thinks so.

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CoreLogic, a company focused on real estate research, is constantly trying to understand and analyze trends in the housing market. And its most recent report bears good news for struggling first-time buyers, as it’s predicting slower growth.

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Report Indicates Housing Bubble is About to Deflate

House prices increased by around 17% in 2022, even though everything going on in the wider economy suggested the exact opposite should happen.

This has left many people wondering if we’re in the middle of a housing bubble set to burst any minute now. Are we due a correction? A recent report from CoreLogic suggests this could be the case, but the experts haven’t exactly reached a consensus.

Everyone scraping together the funds to buy a house in 2020 looked on in panic as the markets seemed to defy all expectations.

Where Things Stand in 2022

Fast forward to 2022, and we’re finally seeing some signs that things are changing. The Fed has finally changed its approach by rising rates (up to 0.75% in May 2022), resulting in mortgage rates rising.

TIM THOMAS

TIM THOMAS

HOUSING MARKET TRENDS

Investing in Real Estate or Buying a New Home?

Learn About Emerging Trends In: Mortgage rates Buyer demand Home values Real estate investor trends

Is the panic and FOMO from the pandemic finally beginning to subside, making way for a correction? One organization thinks so.

The CoreLogic Report

Is the panic and FOMO from the pandemic finally beginning to subside, making way for a correction? One organization thinks so.

The CoreLogic Report

CoreLogic, a company focused on real estate research, is constantly trying to understand and analyze trends in the housing market. And its most recent report bears good news for struggling first-time buyers, as it’s predicting slower growth.

Swipe up now to read the full post!

READ MORE