Goldman Sachs releases forecast on housing downturn: ‘Further to fall’ ...Middle East

Goldman Sachs says home sales have taken a larger dip than previously reported, a trend experts say could continue further into the year. Researchers said in the new report that new and existing home sales saw a nearly 30 percent drop from the peak seen in October 2020 amid higher mortgage rates and a reversal in what was described as several “pandemic-related preference shifts.” During the pandemic, the nation saw a boom in household formation and demand for second homes, researchers noted. But they added that multiple areas that once saw “outsized increases in home sales and building permits in 2020 and 2021” are currently seeing disproportionate declines. “The outlook for dem

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Goldman Sachs releases forecast on housing downturn: ‘Further to fall’ ...Middle East

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