It's Deja Vu in the Housing Market—Is It 2006 All Over Again?
Skyrocketing home prices have leveled off. Recession fears are swirling. The number of home sales has dropped. Is it 2006 all over again?
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Skyrocketing home prices have leveled off. Recession fears are swirling. The number of home sales has dropped. Is it 2006 all over again?
The U.S. housing market has turned, and it's starting to backfire on home flippers.
The housing market correction is here, so what does it mean for home flippers? Early signs show the home flipping industry may be one of the first to pull back and suffer as real estate prices decelerate amid today’s mortgage rates, which are hovering around 7%.
In some locations, prices will likely flatten or perhaps dip as much as 5% – but even with a slight drop in July, home prices were still up 10.8% year-to-year.
With the negative shift ravaging the real estate market, it is easy to say that there's nothing positive, but there are opportunities.