With home sales down, why are home prices still up

By Logan Mohtashami | HousingWire

Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows.

I talked about having a 23% price-growth model for the housing market in the years 2020-2024 as a critical marker of balanced growth versus overheating, especially as inventory had been falling for years right into our critical demographic patch. Slow and steady always wins, but sometimes fate deals you a bad hand, and not much can be done when the marketplace overrides anyone’s desire for balance.

Over the last two and a half years of U.S. housing, one thing that will make the record books is that it wasn’t housing deflation we needed to worry about, but housing inflation on both ends: home prices and rents.


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