Am suspecting
Posted on: May 24, 2022 at 12:25:00 CT
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A housing price contraction, or possible bubble burst to correct for the rapid rise of house prices in the past 12 months.
Sales of new single-family homes plummeted in April as rising mortgage interest rates and skyrocketing house prices took a toll on the market.
“[It's] a clear recession warning,” said the chief economist for the National Association of Home Builders.