Statista spotlight report on the U.S. housing market during a recession
The United States' period of surging homebuying activity has come to an end. The onset of the coronavirus pandemic's record-low mortgage rates made it easier for many Americans to purchase a new home. However, as the economic climate deteriorated, the housing market responded with a gradual decline in sales activity.
This Statista report delves into the housing market's response during the economic downturn. It explores the major challenges and opportunities that the market is currently facing, including overcoming supply shortages and providing new housing at an affordable price. These challenges and opportunities vary in extent across different metropolitan areas due to the regional nature of the housing market. To complete the picture, the report provides an in-depth analysis of how major metropolitan areas across the country are positioned in the current situation. The analysis includes metrics such as housing shortage, inventory and sales count changes, forecast house price changes, and affordability.
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