It Started: The Reverse Housing Crash of 2023
Published: 2023-07-07
Status:
Available
|
Analyzed
Published: 2023-07-07
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Housing prices are predicted to start rising for the remainder of 2023.
"new forecast now showed that there's a higher likelihood of prices beginning to rise throughout the rest of the year"
Pending
Spring and summer are identified as the busiest buying periods, which historically drive housing prices upwards.
"buyers are more likely to move and buy a house throughout the spring and summer leading to a mid-year beating frenzy of homes that drives prices upwards"
Pending
The number of active home listings has fallen below the previous year's level for the first time in over a year.
"this week marks the first time that there were fewer active listings compared to a year ago in more than a year"
Pending
New construction now accounts for one-third of the total housing market inventory, significantly higher than the 13% seen between 2000-2019.
"new constructions now making up one third of the total Market inventory compared to just 13 percent in the Years 2000 to 2019"
Pending
A significant percentage of potential sellers would be motivated to list their homes if mortgage rates dropped to 5% or below (27%) or 4% (49%).
"just over 27 percent of sellers who are considering listing their home in the next year would feel a lot more urgency to sell if rates dropped to five percent or below and 49 would be likely to list if rates were to drop to four percent"
Pending
Housing inventory is projected to decline by 5% for the entirety of 2023, with a drop expected in the second half of the year.
"housing inventory will experience a modest slip of five percent for 2023 as a whole as early year gains turn into declines in the second half of the year"
Pending
National home price growth is forecasted to decrease by 0.6% for the full year 2023.
"home price growth is expected to fall by 0.6 percent for the entire year"
Pending
The S&P K Schiller index manager anticipates a peak-to-trough decline of 5% in housing prices, with 2% still to recover.
"the manager of the s p k Schiller index believes that we could see a five percent decline peaked trough with two percent still yet to recover"
Pending
Goldman Sachs projects a 2.2% decline in US housing prices for 2023.
"Goldman Sachs also seconds this with the expectation of seeing a 2.2 percent decline in 2023 revised downwards"
Pending
Fannie Mae forecasts a 1.2% decrease in national home prices for 2023, followed by a further 2.2% decline in 2024.
"Fannie Mae last week they revised their forecast which projects that National home prices will decrease by 1.2 percent in 2023 followed by an additional 2.2 percent decline in 2024."
Pending
Zillow predicts that the US housing market will end 2023 with a 5% increase in prices compared to the beginning of the year.
"Zillow's taken note of this recent Surge and they think that 2023 is going to end the year 5 higher than where it began"
Pending
Millennials constitute the largest generation in the housing market, making up 43% of buyers.
"Millennials represent 43 percent of the overall housing market which is the largest from any generation"
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Housing economists cite five key reasons why housing prices are expected to remain relatively stable.
"housing economists say that there are five main reasons why housing prices are unlikely to budge much from what we've already seen"
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A previous prediction from July 2022 suggested potential softening in the housing market, with some areas declining 5-15%.
"today we could probably see some softening with a few areas declining five to fifteen percent"
Pending
Based on historical patterns, a large segment of homeowners who secured low interest rates may not sell their homes for another 8-10 years.
"so many people have already bought or refinanced at extremely low interest rates to the point where if history is any indication we probably got another eight to ten years left before a lot of these people begin to sell"
Pending