Speaking to clients in spring 2022, researchers at John Burns Real Estate Consulting made their case for why the red-hot U.S. housing market would soon plunge into a correction in which prices would fall by double-digits in many overheated markets. The call was bold, considering at the time Zillow economists were predicting that U.S. home values would skyrocket another 17.8% between February 2022 and February 2023.
It turns out JBREC researchers weren't just right, they were spot on.
