Housing Markets Labeled ‘High’ Risk of a Home Price Drop Just Spiked 73%
With home prices dropping and the spike in mortgage rates, the pandemic housing boom has been brought to an end.
According to Fortune, between April 2022 and April 2023, CoreLogic predicts U.S. home prices are poised to rise another 5.9%. But not every housing market will be so lucky. Fortune reached out to CoreLogic to see if it would provide us its assessment of the nation’s largest regional housing markets. Among the 392 regional housing markets it looked at, CoreLogic found 45 markets had a greater than 50% chance of seeing local home prices decline over the next 12 months. Last month, only 26 markets fell into that camp. That’s a 73% one-month jump.