What the latest downturn in the housing market means for buyers
What the latest downturn in the housing market means for buyers
In May, there were 34% more sellers than buyers nationally, according to the real estate company Redfin. That is the highest rate since Redfin started gathering data in 2013. Kelly O’Grady reports.
Read the full article on CBS US
Truth Analysis
Analysis Summary:
The article presents a claim about the housing market using Redfin data. While the claim itself might be accurate based on Redfin's data, the provided sources do not directly verify the specific percentage increase of sellers over buyers. The article exhibits a slight bias by focusing on the downturn and its implications for buyers, potentially overlooking other factors.
Detailed Analysis:
- Claim: In May, there were 34% more sellers than buyers nationally, according to the real estate company Redfin. That is the highest rate since Redfin started gathering data in 2013.
- Verification Source #1: This source does not directly verify the claim about the 34% increase or Redfin's data gathering period. It discusses housing market predictions but doesn't provide specific data points to confirm or deny the claim.
- Verification Source #2: This source does not directly verify the claim. It discusses potential scenarios for a housing market crash but doesn't provide data on the seller-buyer ratio.
- Verification Source #3: This source provides information on the NAHB/Wells Fargo Housing Market Index, which is a different metric than the seller-buyer ratio mentioned in the article. It does not verify the claim.
- Verification Source #4: This source discusses housing markets facing decline but does not verify the specific claim about the 34% increase in sellers over buyers or Redfin's data.
- Verification Source #5: This source is a Reddit thread and does not provide verifiable data to support or contradict the claim.
- Assessment: Unverified. While the claim may be accurate based on Redfin's internal data, none of the provided external sources directly verify the specific percentage or the timeframe mentioned.
Supporting Evidence/Contradictions:
- None of the provided sources directly confirm or deny the specific claim about the 34% increase in sellers over buyers according to Redfin data.