To put this in context, the $2.3T drop is for the prior six months. In the prior 36 months (including the six months with this drop), the housing market posted a gain of $13T, a gain of approximately 40% (based on the peak valuation of $47.7T from the article).
While it may signal some cooling, housing is still substantially less affordable than it was pre-pandemic.
* edited to correct the time frame, 36 months not 24 months.
While it may signal some cooling, housing is still substantially less affordable than it was pre-pandemic.
* edited to correct the time frame, 36 months not 24 months.