What does 2023 hold for the housing market? Here’s what experts have to say about what lies ahead.
Home Price Appreciation Will Vary – Some experts call for slight appreciation and some call for slight depreciation on a national level.
In short, home price appreciation will vary by the local market. It’s all about supply and demand. But, the average is neutral price appreciation for the country.
Mortgage Rates will Respond to Inflation – Where mortgage rates will go from here largely depends on what happens with inflation in the year ahead.
“…mortgage rates could pull back meaninfully next year if inflation pressures ease.”
Greg McBride – Chief Financial Analyst, Bankrate
Home Sales Will Moderate – Home sales are projected to be lower than 2022 due to higher mortgage rates that have moderated buyer demand
If you’re thinking of buying or selling a home this year, let’s connect so you understand where the housing market is headed in 2023.
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Courtesy of Keeping Current Matters