A historically sharp home price correction is hitting these 19 housing markets

Econ & Housing

Fed Chair Jerome Powell was frank with reporters last month: The U.S. housing market, he said, was in a “difficult correction.” This housing correction—which started months ago—has only picked up steam in the weeks since Powell made the statement. As of Wednesday, mortgage purchase applications are down 38.4% on a year-over-year basis. Historically speaking, these…

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