Thoughtful Money with Adam Taggart · Wednesday, July 8, 2026
Real estate analyst Nick Gerli states that the housing market correction, which began four years ago with a collapse in home sales and buyer demand, is still ongoing. He notes that buyer demand is at historic lows, comparable to the 2008-2009 period. Gerli observes a shift in the market, with more sellers experiencing distress and capitulating on prices, leading to "crash pricing" on some listings.
“The housing market correction started four years ago when home sales and buyer demand collapsed to the lowest level on record. And we're still in that home buyer demand collapse. Actually, it's a depression of sorts in terms of home buyer demand. Whether you look at existing home sales, pending home sales, builder supply, or you look at mortgage applications, we're literally still at 2008, 2009 lows in terms of demand.”
“The shift I've seen in the last year, but particularly in the last six months, is that more and more sellers are starting to run into distress. And I'm starting to find properties in some of these states, uh, that are down 100, 150,000 from what they sold for just a couple of years ago. Literally, crash pricing is now starting to set in on certain listings.”