Breakingviews – U.S. housing faces longer descent to basement
Breakingviews - U.S. housing faces longer descent to basement,The U.S. housing market is destined to keep sliding. The highest mortgage rates in 15 years have stifled demand, leading the pace of existing home sales to slow 31% since January. An influx of new supply should depress prices from pandemic-era highs, but affordability will be squeezed well into 2023.

Breakingviews – U.S. housing faces longer descent to basement

The U.S. housing market is destined to keep sliding. The highest mortgage rates in 15 years have stifled demand, leading the pace of existing home sales to slow 31% since January. An influx of new supply should depress prices from pandemic-era highs, but affordability will be squeezed well into 2023.