Housing market crash to pre-pandemic home prices: how much drop in home prices?
Many are waiting for a housing market crash to buy a home, but how much of a home price drop are buyers waiting for in the housing market crash before they will buy (we call this the strike price)? Would pre-pandemic home values be low enough? How much do home prices need to drop from current home values before buyers won’t be worried about a housing market bubble?
We crunch actual housing market median home price values to show how far home prices need to drop to return to pre-pandemic home value levels. Plus, we use home price predictions from several sources, including Freddie Mac, Zillow and Goldman Sachs, to show where median home prices could be in August 2022 and how far home prices need to drop to get to pre-pandemic median home price values.
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