After a tumultuous summer for real estate, autumn is nearly here. As of mid-September, the benchmark 30-year fixed-rate mortgage average is hovering just north of 6 percent, and skyrocketing home prices are finally starting to drop, and in some area literally tumble.
Here are our prediction on which directions the housing market will head in as the leaves start to change.
The Housing Market Is About to Be Hammered
That’s a tough opening statement and it’s meant to get your attention. Here is how the pros back that up.
The market seems to be cooling dramatically, and Rick Sharga, executive vice president of market intelligence for ATTOM Data Solutions, says the signs are undeniable. Case in point: July marked the seventh consecutive month…