Amazon Is Down Nearly 25% In A Month, Now The Housing Market It Is Home To Is At Risk Of Falling Too

The housing boom that followed the pandemic saw U.S. home values break numerous records. For the first time, the national median resale price exceeded $400,000.

However, the boom is now over. Prices are no longer rising at an exponential rate; in certain markets, property values are stagnant, and some markets are at serious risk of decline.

The two-pronged attack of rising mortgage rates and escalating affordability issues is to blame, according to housing economists.

Price weakness is showing up in high-priced metro areas that once ranked among the hottest in the nation. The once-frothy markets in the Seattle area, home of Amazon.com Inc, AMZN is teetering on the largest pullbacks in home values, according to CoreLogic’s monthly home price index.

Top Market At Risk Of Decine:

These five metropolitan areas are most at risk of home price declines, according to CoreLogic’s home price index

5. Tacoma-Lakewood, Washington
Level of risk of price decline: Very high, above 70% probability.
Confidence score: 50%-70%

4. Eugene, Oregon
Level of risk of price decline: Very high, above 70% probability
Confidence score: 50%-70%

3. Bellingham, Washington
Level of risk of price decline: Very high, above 70% probability.
Confidence score: 50%-70%

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2. Bremerton-Silverdale, Washington
Level of risk of price decline: Very high, above 70% probability.
Confidence score: 50%-70%

1. Crestview-Fort Walton Beach-Destin, Florida
Level of risk of price decline: Very high, above 70% probability.
Confidence score: 50%-70%

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