It Started: The Worst Housing Crash In 40 Years

"Goldman Sachs believing that more price drops are likely to come soon."

"Black Knight reports that the housing market has officially shifted from slowing down to a decline in July with median prices falling for the first time in 32 months."

"Annual price growth in July was the fastest single month deceleration in more than 40 years."

"The largest decline so far is awarded to San Jose California with a 10 drop in just the last three months."

"Black Knight mentions that with prices beginning to decline this last July was one of 10 of the least affordable months in the last three decades with almost 33 percent of the median household income to purchase the average home."

"They estimate that we would cross the six-month inventory threshold by December tipping the market in favor of buyers for the first time in recent years."

"Goldman Sachs came on record to say that we expect home price growth to stall completely averaging zero percent in 2023 while outright declines in National home prices are possible and appear quite likely for some regions."

"The market currently believes that the Federal Reserve is 82 likely to implement another 75 basis point rate hike on September 21st meaning we could soon see the highest interest rates since 2007."

"With more homes being offered for release this should help ease up some inventory and help bring down prices right alongside with it."

"A Redfin Chief Economist even went so far to explain that thanks largely to mortgage rates near or even above six percent potential home buyers and sellers are focusing on the back to school season and enjoying the last days of summer rather than getting into an uncertain market."

"Moody's Analytics believes that most likely housing prices will shift anywhere between zero and negative five percent year over year to as much as negative 10 if we enter a severe recession."