Source: Financial Times —
The US housing market is cooling faster than expected, as supply-chain issues continue to bite in that sector, according to Goldman Sachs. The bank expects US home-price increases to decelerate through the rest of this year and then flatline in 2023, it wrote in a note this week.
This is not because the supply strains are getting better, but because demand is falling as US mortgage costs increase. The economists looked at the state of the market in a note this week, and found some interesting trends.
We will summarize the most notable here. First, the economists write, the housing market has slowed faster in areas that got a boost during Covid-19.
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