Goldman Sachs Estimates a Peak to Trough Housing Decline of a Mere 5.7 Percent

Goldman Sachs has estimated a peak-to-trough decline in housing prices, while Realtor.Com has revised its 2023 forecast with a downward revision. The median existing home sales price is expected to fall by 0.6% in 2023. However, the author expresses skepticism, considering the current state of high home prices and mortgage rates. Additionally, existing home sales recorded a minor gain in May but declined by 20.4% compared to the previous year. The affordability of starter homes has also become a significant challenge. The author disagrees with the forecasts, expecting a more significant decline in housing prices.