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In July, the housing market had a 4.0-month supply of housing inventory, a 19.8 percent improvement over last year but still below the 5 to 6 months needed for a healthy, balanced market — one ...
“A crash happens with oversupply,” Yun says. “A 30 percent decrease will not happen, because there isn’t enough inventory.” He believes the housing supply will balance out within five years.
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And housing starts have still not recovered from the bursting of the housing bubble in the mid-2000s. Divide between haves and have-nots The forecast for a “stuck” housing market cuts both ways.
Key housing market stats The median home-sale price in the U.S. as of October 2024 was $407,200, according to NAR. That’s a year-over-year increase of 4.0 percent and the highest October median ...
According to Wall Street economists, the U.S. housing market will not significantly improve until at least 2026, and home affordability is unlikely to increase without a recession. Bank of America ...
National Association of Realtors (NAR) chief economist Lawrence Yun detailed, in a 2023 forecast, that housing inventory is expected to remain tight in 2023, with housing starts below historical ...
Since the Great Depression, the next most dramatic economic crash of the day came in 2008-09, when the overinflated housing bubble burst, sending the U.S. economy into free fall and devastating...