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11 In A Row
11 straight months.
That's a long time when you're talking about deleterious trends, and in this ca
Until affordability changes, these trends won’t recover. A middling decrease in mortgage rates won’t materially affect affordability. Add that to consumer balance sheets materially weakening and there won’t be much of a reprieve. I do though expect volume based metrics to level off for a bit (9 months or so). However pricing will likely continue to decline even if at a slower pace. I live in the Boston metro. Our home prices went negative as of the December data. I expect the national average to be negative by March at the latest.