What’s next for the housing market?
The housing market went through explosive growth after the pandemic as the number of units sold exceeded 6 million annually. The last time something like this happened was during the 2005-2006 period, just before the Great Recession. This time, just like before, sales volume followed its spike with a crash to around 4 million. However, sales prices, similar to last time, continue to rise despite the sharp drop in sales volume. The similarities end there, as the economy went through a deep recession in 2008, while it is growing solidly now.
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(Original air-date: 9/6/24)