Source: WTOP News —
Economists and real estate industry leaders generally agree that the U.S. housing market has slowed and will continue to in 2023, but have tended to use words like “temper,” “modest” and “correction” when referring to declining sales and prices ahead.
“Crash” is a word that has been almost universally avoided.
Consumers may have gloomier expectations.
A recent LendingTree survey of 2,033 Americans, aged 18 to 76, found 41% believe the housing market will crash in the next 12 months. The survey was conducted Oct. 18. Crash is defined as a significant drop in home values in a short period of time.