The worst is over for the US housing market – and prices will stop crashing within 6 months, Goldman Sachs says

Wed, 01/25/2023 - 06:59

A home for sale with a price reduction sign — House prices are likely to have fallen 6% from their peak by the time they stop sliding later this year, according to Goldman Sachs.
Reuters

A painful period for the US housing market looks like it's coming to an end, according to Goldman Sachs.
The bank predicted that prices will fall just 6% from their peak and bottom out halfway through 2023.
But there are likely to be steeper declines in west coast cities like Austin and San Francisco, strategists added.

The end is in sight for the US housing market's troubles, according to Goldman Sachs.

Strategists at the US bank said this week that easing mortgage rates are likely to help the market find a floor within six months – with prices likely to have fallen around 6% from their peak when housing bottoms out.