Goldman also noted the disconnect between housing supply and demand remained “severe” last month, although it slightly advanced with the inventory of existing homes available for sale increasing to 3.0 months’ worth of supply from 2.9 months. But that is still well below the 2019 average of 3.9 months.
Last week, Wharton professor Jeremy Siegel said he expected home prices to see the second-worst decline since World War II amid aggressive Fed rate hikes.
