Google Searches Show Rising Fears of a Housing Market Crash

Over the past month, the phrase “When is the housing market going to crash?” saw a 2,540% increase in Google searches, according to a report in CNBC. Other searches that have recently spiked include “Why is the market so hot?” and “How much over asking price should I offer on a home 2021,” according to the report.

The report cites data from the property-data company CoreLogic showing that home prices were up more than 10% in February compared to the previous February, which is the largest annual jump since 2006. According to Redfin data, around 42% of homes are selling for more than the asking price — a 16 percent increase from last year, the report says. The report also says that only about half as many homes are on the market as there were this time last year.

Read more…

Share.

Comments are closed.