Housing Crash Confronts Cont'd Kansas City Real Estate Hype: Stay Put???

The real estate "selling season" was a bust in 2022 but local agents did their best to confuse the public and push people into a volatile market.

Meanwhile, the data offers a dire glimpse at the current situation and a bit of hope that prices aren't going "to the moon" for those of us lucky enough to live far away from deplorable hipsters . . .

"The housing market will continue to plummet as there's "no floor in sight," according to Pantheon Macroeconomics. Chief economist Ian Shepherdson wrote in a note Thursday that home prices could fall as much as 20%.His warning came after existing home sales dropped for an eighth consecutive month, the longest slump since 2007."

Read more via www.TonysKansasCity.com links . . .

The housing market is in free fall with 'no floor in sight,' and prices could crash 20% in the next year, analyst says

With mortgage rates rising, even prospective buyers who are looking to downgrade to a cheaper home would face bigger monthly payments, Shepherdson said, providing more incentive to stay put and constraining supply further.

Home prices are finally falling. But how low will they go? | CNN Business

The US housing market is in the midst of a major shift. After two years of stratospheric price appreciation, home prices have peaked and are on their way back down.

A 20% crash in the housing market is possible as mortgage rates continue to surge higher

Good morning, readers. I'm senior reporter Matt Fox. Phil Rosen will be back next week. There's a flashing red warning sign hitting one of the biggest segments of the US economy: the housing market. Existing home sales fell for the eighth straight month in September.

Developing . . .