The likelihood of a severe downturn in the U.S. housing market has risen, according to an August 17 report from credit reporting agency Fitch Ratings.
“However, our ratings-case scenario provides for a more moderate pullback that includes a mid-single-digit decline in housing activity in 2023, and further pressure in 2024,” said Fitch, after it recently affirmed a stable outlook for U.S. homebuilders.
