The American housing market is starting to face a lot of headwinds. Interest rates are creeping up which, along with the price appreciation, is causing affordability issues. Many major markets already saw a top while pulling back significantly. Houses are staying on the market longer with homeowners having to reduce prices to get contracted.
Since 2008, Americans are staying in their homes longer. In spite of the run up over the last decade, there are still a number of people who are underwater. At the same time, we see a lot of homes that only have 5% equity meaning sellers walk away from the table with nothing after commissions.
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