These US housing markets are most at risk for price plunge: analysisBy Thomas Barrabi
July 27, 2022
Markets that enjoyed huge run-ups in prices during the pandemic-era housing boom are now among those most at risk for a major correction if the US economy enters a recession, according to an analysis by real estate firm Redfin.
Redfin noted that the US housing market has “slowed considerably” this spring due to soaring interest rates and decades-high inflation.
That means buyers who poured into “popular migration destinations” during the COVID-19 pandemic are likely to see price declines in those overheated markets.
The coastal city of Riverside, Calif. had the highest “downturn risk score” of 84 out of 100, followed the once-booming market of Boise, Idaho with a 76.9 rating and a smattering of cities in warm-weather locales across Florida, Arizona and California.
“What goes up must come down,” Redfin senior economist Sheharyar Bokhari said.
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Source:
https://nypost.com/2022/07/27/these-us-housing-markets-are-most-at-risk-for-price-plunge/