Americans worried about the housing market apparently have turned to their most trusted source for information: Google.
Search queries for “When is the housing market going to crash?” rose 2,450 percent from March to April, as nervous homeowners and their home-buying counterparts fret about the white-hot housing market, according to Market Watch.
Eye-popping Home Values Belie Deeper Inventory Problem
Headline after headline has focused on the stratospheric rise in home prices, with median list prices now topping $370,000 (up 16 percent year over year). However, the more troubling statistic is actually the vacancy rate, which is 53 percent lower than this time last year, according to realtor.com.
The vacancy rate reveals that a mere one million homes are currently for sale in the country, a level not seen since the 1980s, Wolf Street reported.