The 2022 Housing Crash is underway in Cities where home sellers are dramatically cutting the price on Listings.
The Value of the Average Price Cut in America has surged in recent months near an all-time high. Especially in Housing Markets such as New York and Boise, Idaho, where sellers are getting increasingly desperate.
One reason that Sellers could be getting more desperate in the 2022 Housing Market is because of the recent shift in narrative. Recently mainstream outlets such as the Wall Street Journal, Business Insider, and Meet Kevin have started to discuss the 2022 Housing Bubble and Crash.
That, along with surging Mortgage Rates that have suppressed buyer demand, might have spooked sellers who are hoping to sell their homes before the Real Estate Crash unfolds.
Historically, an increase in the Value of Price Reductions is a sign that more Inventory and Price Cuts are coming. Markets that have experienced this increase in Price Cut Value include the aforementioned New York and Boise.
In addition – metros such as Boston, Seattle, San Jose, Nashville, and Las Vegas have also seen an increase in the amount sellers are cutting prices.
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(Scroll down to “Sales Count & Price Cuts”. ‘Share of Listings with a Price Cut’ and ‘Mean Price Cut’ Smoothed Monthly All Homes is what was used in this video.)
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Originally published at https://www.youtube.com/watch?v=g5c1PONL1DI
This news story originally appeared at Real Estate - Trend Magazine on 28 April 2022