The ability to work from anywhere, low mortgage rates, and tight inventory levels fueled the Pandemic Housing Boom—investors were in a frenzy and demand surged.
Fast-forward and that boom has turned into a correction as the Federal Reserve aggressively raised interest rates over the last year. Mortgage rates spiked, demand fell, prices slumped, and several boomtowns like Phoenix and Las Vegas saw an investor exodus—all of which has triggered a dramatic correction in their housing markets.
