According to the results of a Reuters poll, the US housing market could be seeing cracks beginning to show, with expectations of a rapid slowdown on the horizon. Key quotes After falling by a third during the financial crisis a decade ago, U.S. house prices have mostly recovered all their losses, rising at more than double the rate of inflation and wages over the last five years. “The peak in price increases has been reached and with rates rising further and the economy slowing, price gains can only decelerate,” said Joel Naroff, chief economist at Naroff Economic Advisors. A majority, 17 of 29 analysts who answered an additional question, said U.S. housing market turnover has already peaked. “The magnitude and speed at which home sales have weakened is surprising, following just a three-quarter of a percentage point rise in mortgage rates. We suspect the problem is a lack of affordable product in the markets where potential home buyers would like to live,” wrote Mark Vitner, senior economist at Wells Fargo, in a note to clients. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BOK: Growth forecast to be in line with October prediction, CPI likely to move higher FX Street 4 years According to the results of a Reuters poll, the US housing market could be seeing cracks beginning to show, with expectations of a rapid slowdown on the horizon. Key quotes After falling by a third during the financial crisis a decade ago, U.S. house prices have mostly recovered all their losses, rising at more than double the rate of inflation and wages over the last five years. "The peak in price increases has been reached and with rates rising further and the economy slowing, price gains can only decelerate," said Joel Naroff, chief economist at Naroff Economic Advisors. A majority,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
