Real Estate Market Predictions for the Remainder of 2023Posted by Judy Orr on
If you are a buyer or seller, or both, of real estate in 2023, you can easily tell that there has been a shift away from the crazy Seller's Market we saw in 2020, 2021, and the beginning of 2022. Prices are easing and homes are remaining on the market longer.
The real estate market in the US saw a rise in mortgage rates last year, which affected both demand and price appreciation. Availability of homes is no longer the main concern, although inventory still remains lower than normal, but affordability is a great factor for many home buyers. The real estate market is expected to finally stabilize due to the increase in mortgage rates.
What will happen with mortgage rates?
Economists predict that mortgage rates will fluctuate less this year…
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