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Home Sales TANK as the Housing Market Correction Continues

We’re in a housing market correction. No one denies that. But what do we mean by a housing “correction”?” Are we talking about a five percent drop? Maybe ten percent? What about twenty percent price drops? Could that even be possible in today’s market? Looking at some of the data, it seems like the housing market has started to shift quicker than many were expecting. Last year’s “top markets” are already starting to see huge buyer pullback as a “sellers’ revolt” is in full swing.

But we’re not here to debate over definitions. We’re here to look at the data, so we can buy the best real estate deals around! And no one knows the housing market better than Dave (@thedatadeli) Meyer. Dave has seen the writing on the wall for a while, as interest rates made homebuying almost impossible for many Americans. As a result, home sales have started to plummet, days on market inches higher, and some markets even begin to swing into negative growth territory.

So which markets are suffering the most? Which areas have the best opportunity? And should we expect even more drastic moves from this already sporadic housing market? Dave will give you all the data, numbers, and real estate nerdery you need to make the best investing moves possible in 2022, 2023, and beyond!

00:00 The Housing Correction Has Begun
01:04 Latest Housing Market Numbers
06:09 Areas That Are Cooling FAST
11:11 Where to Expect Price Drops

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Join BiggerPockets for FREE 👇
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Order Dave’s New Book, “Real Estate by the Numbers”:
https://store.biggerpockets.com/products/real-estate-by-the-numbers/?utm_source=youtube&utm_medium=description&utm_campaign=none
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Watch Dave on the “On The Market” YouTube Channel:
https://www.youtube.com/channel/UCxDXuLvtjJ9Est8PrG3i2VA
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Check out Last Week’s Episode on Rent Prices Dropping:
https://youtu.be/7tXwyl4q0Dk
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Hear Our Interview with Moody’s Analytics’ Cris deRitis:
https://www.biggerpockets.com/blog/on-the-market-47?utm_source=youtube&utm_medium=description&utm_campaign=none
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Data from This Episode:
Redfin: https://www.redfin.com/news/data-center/
Realtor: https://www.realtor.com/research/data/
Moody’s: https://fortune.com/2022/10/29/housing-market-falling-home-prices-forecast-crash-correction-moodys/
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Connect with Dave on BiggerPockets:
https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none
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Follow Dave on Instagram:
@thedatadeli or https://www.instagram.com/thedatadeli/

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