’s 2023 forecast…

Not necessarily the rosiest predictions for 2023 – at least for homebuyers – but does forecast that the housing market will be a bit more stable. A few highollights:

  • Home prices will continue to climb by approximately 5.4 percent
  • Mortgage rates will continue to be high – 7.4 percent before dropping to 7.1 percent by year’s end
  • Considerably more houses on the market…
  • …but many will sit for longer as there will be fewer buyers who can afford them
  • Given all of the above,there will be fewer home sales in 2023

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