What to expect from the housing market in 2023

The 2022 housing market was been defined by two key things: inflation and rapidly rising mortgage rates. Here’s what housing market experts say we should keep an eye on next year.

𝙈𝙤𝙧𝙩𝙜𝙖𝙜𝙚 𝙍𝙖𝙩𝙚𝙨:

If inflation is high, mortgage rates will be as well. But if inflation continues to fall, mortgage rates will likely respond. We will start the year out around 6%, but we could see rates tick down if inflation continues to drop.

𝙃𝙤𝙢𝙚 𝙋𝙧𝙞𝙘𝙚𝙨:

Homes prices will always be defined by supply and demand. The more buyers and fewer homes there are on the market, the more home prices will rise. Economists are projecting we will likely see relatively flat or neutral appreciation in 2023.

𝘽𝙤𝙩𝙩𝙤𝙢 𝙇𝙞𝙣𝙚:

The 2023 housing market is going to be defined by mortgage rates, and rates will be determined by what happens with inflation.