Adria King

08/19/2022

08/19/2022

Houston, TX 77078
Harris County

07/27/2022

Falling home prices? This interactive map shows the statistical odds of it occurring in your local housing market.

Heading forward, the housing market will continue to slow. The Federal Reserve put upward pressure on mortgage rates as a way to temporarily sideline homebuyers. The subsequent decline in home sales creates economic contractions across the economy. It's already causing layoffs in sectors like homebuilding and mortgage lending. Soon, it'll see cutbacks in a durable good production, like window production, and cutbacks in commodities like lumber and steel. As economic contractions spread throughout the economy, it should help to chip away at inflation.

Among the nation's 392 largest regional housing markets, CoreLogic finds 98 markets have a greater than 50% chance of seeing local home prices decline over the next 12 months.