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Will the Falling Price of Oil Hit Housing Markets Hard?

Mar 14 2016

According to data from the U.S. Energy Information Administration, crude oil prices have fallen by roughly 70 percent since June 2014 and are currently sitting at a 13-year low.

That’s good news for drivers and consumers generally, but it’s potentially bad news for real estate markets in some oil-producing regions. Specifically, North Dakota, Wyoming, Alaska, Texas, Louisiana, New Mexico, and Oklahoma are at risk of seeing plunging oil prices lead to slower housing activity and, in some cases, perhaps even falling home prices down the road, says Eric Brescia, an economist with Fannie Mae’s Economic & Strategic Research (ESR) Group.

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