Monday, May 29, 2023

🤔 When will home prices be affordable again, Nancy?

Nancy, the housing market in H2 2023 is expected to put off many buyers with high mortgage rates... (continue reading).
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When Will Home Prices Be Affordable Again?

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  Prepared for:  
 Nancy Monts-lium 

Report Source: Forbes

Nancy, the housing market in H2 2023 is expected to put off many buyers with high mortgage rates and home prices. The combination of elevated mortgage rates, high home prices, and limited inventory may result in a slow and challenging climb for the market.

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 What is Keeping Home Prices High..

The tight inventory issue is keeping prices high and perpetuating affordability challenges, especially first-time homebuyers

The mortgage application activity remains low, but some experts predict a slow recovery may soon be underway

However, the housing supply remains limited and is not expected to fully recover by the end of 2023, which may continue to sustain higher home prices

 

 

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Anna Perry 

Communications Manager

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