Econ & Housing

istock.com/constantgardener LAS VEGAS — The housing recession that began in 2022 will bleed into 2023 as elevated inflation and mortgage rates, coupled with stubbornly high building material construction costs, continue to take a toll on the housing industry and are expected to push the overall economy into a mild recession this year. However, the second half
0 Comments
Home prices nationally are down by 4% from June’s peak, with double-digit declines seen in San Francisco and Seattle Housing market conditions deteriorated considerably at the end of 2022. Home price growth continued its rapid deceleration, as homebuyers and sellers decided to wait out the winter, with some fazed by high mortgage rates. The 2022
0 Comments
Data: Redfin; Chart: Axios Visuals A New York Post article reporting that Goldman Sachs has forecast a 2008-level housing crash in Phoenix sent ripples through the Valley’s real estate industry last week. Yes, but: Local experts called the report “hyperbolic,” “misleading” and “a disservice” when Axios Phoenix requested comment. What they’re saying: “This is so
0 Comments