History always repeats itself!
Issues:
Low Demand & Sales: January 2026 saw home sales drop, falling 42% from the pandemic peak and 25% from the long-term average. Mortgage applications have been around 40% below 2019-2020 levels.
Frozen Market: Many potential sellers are locked into mortgage rates below 3-4%, making them reluctant to sell and buy new homes at higher rates.
Regional Differences: Markets that grew rapidly during the pandemic—such as Austin, Boise, and Fort Lauderdale—are seeing the most significant price corrections and sluggish sales. Conversely, the Northeast and Midwest are generally seeing higher demand.
Price Corrections: Sellers are slow to adjust to the new reality, but homes that are not priced appropriately are sitting for over two months. Can you say: Housing Market Crash?