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Friday, January 27, 2023

Has Housing "Bottomed"?

by Calculated Risk on 1/27/2023 12:18:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Has Housing "Bottomed"?

Brief excerpt:

I’ve heard some positive comments from a number of real estate agents in the last week about the existing home market.
Activity is still down sharply year-over-year (YoY), but the YoY decline is getting smaller.

And some upbeat comments on new home sales ...

Way back in 2009, I pointed out that there are usually two bottoms for housing.
There will probably be two bottoms for Residential Real Estate.

The first will be for new home sales, housing starts and residential investment. The second bottom will be for prices. Sometimes these bottoms can happen years apart.
The first bottom is for activity, and the second is for prices.
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