Housing prices are correcting now, at least in some areas. It's definitely happening in AZ. I've seen drops of almost 15%. OpenDoor has been taking a loss on a

Housing prices are correcting now, at least in some areas. It's definitely happening in AZ. I've seen drops of almost 15%. OpenDoor has been taking a loss on a lot of properties it bought over the past few months too. Considering inventory is up over 2X YOY as well, I expect prices to fall even further here. I'm not sure if it'll get as bad as 08 though, but a 30-40% drop isn't out of the question the way things are headed imo. The thing is though with rates as high as they are, housing prices dropping this much actually doesn't make affordability any better unless you can pay in cash.