This is where we are RIGHT NOW and the banking crisis hasn’t even started yet

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Freddie Mac reported that the Single-Family serious delinquency rate in May was 0.55%, down from 0.57% April. Freddie’s rate is up year-over-year from 0.49% in May 2024, however, this is below the pre-pandemic level of 0.60%.

Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.

Fannie Mae reported that the Single-Family serious delinquency rate in May was 0.53%, down from 0.55% in April. The serious delinquency rate is up year-over-year from 0.48% in May 2024, however, this is below the pre-pandemic lows of 0.65%.

The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.

https://calculatedrisk.substack.com/p/fannie-and-freddie-single-family-4c6

The median U.S. condo sale price fell 2.2% year over year to $354,100 in May—the second largest drop in records dating back to 2012.

https://www.redfin.com/news/condo-prices-may-2025/

A buildup of unsold houses sitting on the market for weeks is becoming a new reality in once-booming housing areas across the Sun Belt.

https://finance.yahoo.com/news/homes-taking-longer-sell-us-100000486.html