Has the Economy Locked in US Housing Market Price Stagnation?

The real estate market is one of the largest asset classes in the world. So, when economics shift in the sector, the larger economy feels the ripple effects. Recently, interest rates have been the highest in decades, home prices have seen the lowest recorded rise since 2019 and nearly 60% of homes sold below list price in March 2023. However, zooming out and looking at the bigger picture reveals that some of these trends shouldn’t be as surprising as they seem, and, maybe, they were even predictable.In this episode, host Maiclaire Bolton Smith sits down with CoreLogic Principal Economist Molly Boesel to discuss what is really happening in the housing market and what that means for first-time homebuyers, repeat homebuyers, investors and banks.Up Next: Listen to Molly Boesel talk about myths in the housing market on Core Conversations.In This Episode:2:04 – Has the market slowdown been as bad as economists predicted?5:35 – Interest rates, inflation and home prices: how intertwined is that relationship?7:22 – Get the numbers in the housing market. Erika Stanley hosts The Sip.9:25 – 30-year, fixed-rate mortgages vs adjustable rate mortgages. What is your best bet?13:37 – How closely are people tracking interest rates? Is it worth doing so?