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Will House Prices Decline Nationally?

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Today, in the Calculated Risk Real Estate Newsletter: Will House Prices Decline Nationally?

Excerpt: And yesterday, in an interview with Bilal Hafeez, Ivy Zelman, CEO of Zelman & Associates forecast national house price declines of 4% in 2023, and 5% in 2024: Ivy Zelman on the Coming US Housing Crisis (price discussion starts at around 20:00)There are some mortgage guard rails that could mitigate nationally a severe downturn, and yet the magnitude of the decline for us – the 4% that we are expecting in 2023, and 5% in 2024 -I feel like it is a starting point … the speed of the declines makes us feel like that maybe that could be conservative. But we could see double digit price corrections [in the] hot markets.There are some factors arguing against national price declines. …

But there are also factors arguing for national price declines.

There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/

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