Experts: US is 'definitely' in a housing correction with no end soon
High mortgage interest rates and slow sales have finally caught up with a once scorching-hot housing market, leading to a correction, experts claim.
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High mortgage interest rates and slow sales have finally caught up with a once scorching-hot housing market, leading to a correction, experts claim.
Home sales slide for the sixth month in a row, raising experts' concerns that the housing market is now in a recession.
Sales of existing homes dropped 5.9 percent from June, and were down 20.2 percent from the same period in 2021.
Sales of existing homes ticked down 5.4 percent between May and June as median prices rose to $416,000, according to the National Association of Realtors.
Realogy Expansion Brands CEO Sherry Chris and Compass U.S. Region President Neda Navab said the brokerage of the future is one that prioritizes innovation and embracing change.