ST. LOUIS – A severe slump in the housing market could be coming.
That’s according to credit reporting agency Fitch. Analysts said home prices could dip ten to 15% if there is a major housing downturn.
The agency added a significant slump is “possible, but not yet probable.”
Earlier this week, the National Association of Home Builders said the housing market had gone into a recession.
This was after home builder confidence dropped for eight months in a row.