The housing market crash may be over already. With mortgage rates steadily dropping, buyer demand picking up, and competition creeping back in, this housing correction could have been one of the fastest and least severe downturns we’ve ever witnessed. Top forecasters have hinted at the housing market bottoming out, with some claiming that the “thawing” has already begun—but the data may point to something different. While there are signs of improvement compared to where we stood just a few months ago, some glaringly obvious data points could make this a much closer call than mainstream forecasters think.
Dave Meyer, your sandwich-eating, data-delving host, wanted to know precisely what would cause the housing market to hit its floor. He looks at both the demand and supply side of the housing market, touching on the variables that genuinely make a difference. We’re talking about mortgage rates, housing affordability, loan applications, housing supply, active listings, and more. But you don’t need a degree in Data Science to understand what’s happening behind the scenes.
Dave will explain exactly what is (and isn’t) impacting the housing market, what changes led to the state we’re in, and four scenarios that could play out in 2023 that might put a nail in this theory’s coffin. Betting on the housing market bottoming out? We’d suggest hearing the full story before you make your next investment.
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.