Last year, some housing experts projected a decline in home prices by the end of 2023. But that didn’t happen – inventory was just too low.
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During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year.
Thinking of buying or selling a house and wondering what the new year holds for the housing market?
Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options?
- Today’s housing market is different than it was in 2008.
- Lending standards have tightened, foreclosures have declined, home inventory is much lower, and homeowners have far more equity.
- Whether you’re buying or selling – today’s housing market has plenty of good news to go around.
- Buyers can take advantage of today's mortgage rates to escape rising rents and keep monthly payments affordable. Sellers can reap the benefits of multiple offers and a fast sale.
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.
You might remember the housing crash in 2008, even if you didn't own a home at the time.
If you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates.
Here are a few reasons you may not want to hold off until the new year to sell your house.
Today’s housing inventory is still well below more normal years.
- Buyers hoping for more homes to choose from may be in luck as housing inventory begins to rise. Many experts agree – new sellers listing their homes is great news for buyers and the overall market.
- Although the supply increases are modest, more homes means more options for buyers. A rise in inventory may also help slow the price gains we’ve seen recently and could be a sign of good things to come.
You may have heard some people say it’s better to rent than buy a home right now.