Realtor.com (October 9)
Moody’s Analytics has determined that 22 states “making up nearly a third of the national gross domestic product are either in or at high risk of recession, with another third just holding steady, and the remaining third growing.” Aside from potentially lower interest rates, this doesn’t bode well for the U.S. real estate market, though Realtor.com® senior economist Jake Krimmel identifies one silver lining. “The states at highest risk, especially those located in the Northeast, happen to have the strongest housing markets right now,” while the “states with the softest housing markets…are flagged by Moody’s as having still-expanding economies. This could “limit the downturn in housing” and lessen the risk of major economic downturn provided “local economic fundamentals and housing markets don’t weaken simultaneously.”
Tags: Weaken
