Here's another University of Michigan survey done on Buying Conditions for Houses – Good vs. Bad.
Buying Conditions for Houses are the worst in 50 years! pic.twitter.com/meHc7m2sWR
— Ayesha Tariq, CFA (@AyeshaTariq) February 13, 2023
The housing market has never frozen this rapidly.
Not even leading to 2007-2008.Blackstone, KKR & Co are limiting redemptions from their funds in an attempt to slow the bleeding.
Unless mortgage rates come down quick, it's not looking particularly good for house prices. pic.twitter.com/oFqFSSGJbJ
— Alf (@MacroAlf) February 12, 2023
The West Is A Mess! US Home Prices Decline From 2022 Peak Most In The Western US (SF Down -13%, Seattle Down -11.3%, Phoenix Down -10.5%)
Black Knight’s December Mortgage Report is out and the house price graphs show the west is a mess.
While much of the US is down from 2022 peaks in home price. but it is The West where home prices are down the most (just like 2008 where the Inland Empire of California, Phoenix and Las Vegas crashed in term of home prices).
