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Home Sales Decline To 2008 Levels As Record Mortgage Rates Take Their Toll

Existing-Home sales in the US are projected to plummet to their lowest levels since 2008, anticipated to reach only 4.1 million by the end of 2023. This decline is happening despite a higher population, indicating a struggling housing market.
The high unaffordability of housing, with prices continuing to rise and mortgage rates at their highest since 2000, is causing a decline in purchasing demands. Home sales are slowing, leading to price reductions and increased incentives from sellers to attract buyers.
The persistent low home sales and increasing trend of renting living spaces could tighten the housing supply, potentially driving up prices and resulting in inflation. This, coupled with a lack of new home construction and fewer home appliance purchases, may have a negative impact on the economy.

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Tennessee Star

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Home Sales Decline to 2008 Levels as Record Mortgage Rates Take Their Toll - Tennessee Star

The U.S. real estate market is on track to sell the least number of homes since 2008, when Americans were engulfed in the subprime mortgage crisis and the Great Recession, according to The Wall Street Journal.

2 years ago

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WND

Far Right

Home sales plunge to 2008 levels as record mortgage rates take their toll

(Pixabay) By Will Kessler Daily Caller News Foundation The U.S. real estate market is on track to sell the least number of homes since 2008, when Americans were engulfed in the subprime mortgage crisis and the Great Recession, according to the Wall Street Journal. The number of total existing-home sales is projected to reach only 4.1 million by the end of 2023, the lowest since around 2008, when the world was embroiled in a global financial cris…

2 years ago·Medford, United States

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