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Real estate expert defines housing market doomsday: Something we 'haven't seen in our lifetime'

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Former 'Million Dollar Listing' agent Kirsten Jordan says U.S. real estate is preparing for a correction of home prices in 2024, which opens opportunities for market movement.

Former Bravo star and "Million Dollar Listing" agent Kirsten Jordan – and high-grossing brokers just like her – are wrestling with a pessimistic market that’s allegedly never been seen before. "This is something we actually haven't seen in our lifetime that we can remember.

new report published by Fitch Ratings found that homes were overvalued by 11.1% at the end of 2023, a trend occurring in about 90% of U.S. metro areas. Two weeks ago, mortgage rates rose for the first time in nearly a month to just over 7%. Fifteen and 30-year rates were up again from Friday to Monday, with a 30-year fixed-rate mortgage at 6.875% and 15-year at 6.125%.

 

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