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.