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2020 is what a recent bank of america report

By: bigballss

projected. rising rates have cooled down sales, as intended. The number of units sold (existing homes, not new construction) has seen 8 straight months of decline BUT prices have increased slightly over 3% in the same period. That contradiction speaks to the low invemtory of houses for sale. Sellers are holding firm to prices because even with less buyers the low inventory is keeping prices up. Delinquencies and foreclosures have not increased and prob won't in the near  future. lenders are loosening up guidelines to make up for the volume lost by rising interest rates. Those will be the seeds to drive the next downward cycle but it is way early in that process. rise of property values should slow down but no sign or reason for it to go negative. we need a credit crunch or large employment losses to drive us into a housing crisis. have cash available.  

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