Of those 392 regional housing markets that CoreLogic measured, 84 markets in July were in the "very low" risk grouping. The number of markets with more than 50% probability of price decline doubled again compared to month prior, but remains concentrated to regions that saw particularly strong price growth over the last two years or areas with population out-migration," Selma Hepp, deputy chief economist at CoreLogic, tells Fortune. "Concerns about cooling of housing market demand is spreading across more markets particularly as higher share of home sellers are starting to reduce their asking prices and home price growth is slowing. In May, just 26 markets fell into that camp In June, only 45 markets had a greater than 50% change of a home price decline over the next 12 months.
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