Not at all, the two main drivers of housing remain rock solid...the below article from Hotwire will explain what the 2 main drivers are and what to watch.
Today, existing home sales blew out estimates, coming in at 5,860,000. With new home sales, pending home sales, housing starts, housing permits, and purchase applications already in v-shape recovery mode, this last metric completes the v-shaped recovery across the board for housing.
Let’s just say this is the final nail in the coffin for the housing bear troll camps that were so sure that this time, housing would finally crash. COVID didn’t get the housing market, but it did pull a fast one on those pesky bears.
Look, I get it. For the casual observers of the market, it may seem intuitive