They don't expect a crash, but a slowdown seems likely.
. The supply of single-family homes is growing. And with mortgage rates near 7%, experts say a large-scale housing slowdown is becoming increasingly likely."In one line: Collapse in prices is coming," wrote Kieran Clancy, senior U.S. economist at Pantheon Macroeconomics.
Goldman Sachs analysts also recently cut their outlook for home prices, from roughly flat next year to down 4%, noting that "unsustainable levels of housing affordability to continue weighing on housing demand."to buy would put something of a floor under the market.
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