December   2022

The U.S. Housing Recession Has Begun

Molefe Leballo

The U.S. housing market recession has begun and is set to take centre stage in 2023. The housing market has slowed significantly from last year as mortgage interest rates continue to rise amid the Federal Reserve’s continued rate hikes.

The Federal Open Market Committee (FOMC) raised the federal funds rate by 75 bps at its November meeting, and housing is particularly sensitive to tighter policy.

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