Housing Market Forecast for the Rest of 2023 [INFOGRAPHIC]
KCM Crew • August 4, 2023
Some Highlights
- Want to know what experts say will happen in the rest of 2023? Home prices are already appreciating again in many areas. The average of the expert forecasts shows positive price growth.
- Where mortgage rates go for the rest of the year will depend on inflation. Based on historical trends, rates are likely to ease as inflation continues to cool.
- Even though low inventory continues to be a challenge, experts project 5 million homes will still sell this year. That pace should pick up if rates come down.
The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow.
With ongoing high inflation pushing up everyday costs, some people are worried that'll create a flood of foreclosures. Here's why that's unlikely.
In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory.
The rising cost of just about everything from groceries to gas right now is leading to speculation that more people won’t be able to afford their mortgage payments.
If you’re a homeowner, you might be torn on whether or not to sell your house right now.
Plenty of people are still moving these days.
Looking at monthly home price data from six expert sources shows the worst home price declines are behind us, and they’re rising again nationally.
Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now.
Buying a new construction home can be an exciting experience.
Wondering if it still makes sense to sell your house right now?
