A growing number of US homeowners are selling their houses for less than what they paid for them, with over 3% selling at a loss between May to July. San Francisco, Detroit, Chicago, and New York are hit hardest with losses of more than 6%. Additionally, 95% of US home sellers have regrets in 2023, up from 72% and 90% in 2022. Fannie Mae predicts a recession in 2024 but believes US house prices will continue to grow through the recession. They also expect home sales in 2023 to remain near the lowest annual level since 2009, indicating that the downturn in the US housing market isn't ending anytime soon.
The downturn in the US housing market isn't ending anytime soon, Fannie Mae has said.
"We expect home sales in 2023 to remain near the lowest annual level since 2009," Fannie Mae has said.
This is remarkable. Fannie Mae is predicting a recession in 2024, but they believe US house prices will continue to grow through the recession. @NewsLambert breaks it down. READ: https://t.co/xLECuFYE1S
95% of US home sellers have regrets in 2023, up from 72% and 90% in 2022, respectively, per YahooFinance.
Growing number of homeowners are selling their houses for LESS than what they paid for them - with more than 3% selling at a loss between May to July: San Francisco, Detroit, Chicago and New York hit hardest with losses of more than 6% https://t.co/TnXBAb4M61 https://t.co/22QpI6hNQs
Growing number of homeowners are selling their houses for LESS than what they paid for them - with more than 3% selling at a loss between May to July: San Francisco, Detroit, Chicago and New York hit hardest with losses of more than 6% https://t.co/x5ktncLrD4 https://t.co/vtHWgRgKht