housing slump

Translations
спад на рынке жилья
The housing slump has affected many homeowners.
Спад на рынке жилья затронул многих домовладельцев.
Definitions
A housing slump refers to a significant decline in the real estate market, characterized by falling home prices, reduced sales activity, and an oversupply of homes for sale. This downturn can be caused by various factors, including economic recession, rising interest rates, or changes in consumer demand.