Written by: Dom DiFurio
Home inventory remains at historic lows to start the year, while prices have stayed well above pre-COVID-19 pandemic norms. And in some markets, affordability has fallen off a cliff for would-be homebuyers because of rising interest rates.
Experts are warning that the increase in home values over the recovery period that followed the Great Recession was unsustainably boosted by low pandemic-era interest rates—and, therefore, the bubble must come crashing down. At least a little.
Initially, forecasts characterized the expected housing market "correction" as knocking as much as 10% overall off the value of the average American home by the end of 2023. Real estate firms have continued to issue pessimistic
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