Redfin: Housing market likely in a recession, though ‘little risk’ of delinquent catastrophe

Redfin: Housing market likely in a recession, though ‘little risk’ of delinquent catastrophe

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The Facts Inside Our Reporter’s Notebook Real estate company Redfin said this week that a rapidly cooling housing market could indicate a “recession” within that sector of the economy, though it warned that homeowners were unlikely to see major rates of default absent a severe economy-wide downtown.
The company said in a Friday analysis that “seasonally-adjusted new listings of homes for sale fell 8% from July to August.” which it said was the lowest levels observed since the early pandemic chaos of May 2020, outside the pandemic, the lowest since November of 2012.
Redfin Chief Economist Daryl Fairweather suggested that,...
Source: https://justthenews.com/nation/economy/redfin-housing-market-likely-recession-though-little-risk-delinquent-catastrophe?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators