“they believe that nearly 40% of markets will see a decline throughout 2023.”Graham Stephan, relaying another source: House prices will fall
Said on Sep 14, 2022, at 4:37 in the video.
The window it was checked over
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S&P Cotality Case-Shiller U.S. National Home Price Index: S&P Dow Jones Indices via FRED
Result at every window
All windows are shown, so none is pickedSomebody else's forecast — not scored
What was said around it
would be underwater, which is an amount that's still well below historic averages. And even with a 15% decline in price, fewer homes would be underwater than we saw back in 2016. But keep in mind, this is just one data set from one company, and others like Goldman Sachs have a slightly bleaker outlook in terms of the future of housing. All right, now in terms of the future of housing prices, even though Black Knight reports on past data, others like Goldman Sachs use that data to then predict what they think will happen in the future. And according to them, they believe that nearly 40% of markets will see a decline throughout 2023. Why, you might ask? Well, they noted that one in five sellers have already begun to drop their asking prices with the median price declining from $449,000 at the peak to now just $435,000. In addition to that, the average home now sold for less than the list price for the first time in more than 17 months during the four-week period in August. Now, in terms of which locations had the largest price drops, areas of Boise, Idaho, Denver, Colorado, and Salt Lake City, Utah took the lead with more than 50% of sellers having dropped their price in order to get the
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“But, a Reuters poll of analysts expects prices to fall another 4% this year before maybe stabilizing in 2027.”
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