Vanguard research

Well-positioned borrowers could support U.S. housing

June 22, 2023

Bar chart shows homes for sale as a percentage of U.S. households, namely: 2.42% on average for the 10 years preceding the subprime mortgage crisis, 3.30% at the peak of the crisis, 1.74% on average in the years after the crisis, and 0.99% currently. Our projections for homes for sale as a percentage of U.S. households, after taking into account foreclosures related to home-price declines, are: 1.35% for a 5% decline in home prices, 1.43% for a 10% decline, 1.62% for a 15% decline, and 1.94% for a 20% decline.

Contributors

Ian Kresnak, CFA
Konstantin Nikolaev, CFA
Peter Maguire, CFA

Vanguard Information and Insights

Get Vanguard news, insights, and timely analysis on the market, delivered straight to your inbox.

Read our online privacy notice to learn about how we keep personal information private.

* Indicates a required field

Vanguard Information and Insights

Thank you for subscribing to Economics & markets.

You'll be notified when new content is published, but will only ever receive one email a day from Vanguard Insights.

Vanguard logo

Vanguard is the trusted name in investing. Since our founding in 1975, we've put investors first.