A housing correction is leading to slower home price growth and a drop in mortgage rates, but sellers are just as hesitant to list as house hunters are to buy
The total supply of homes for sale rose 15% year-over-year during the four weeks ending December 4— the biggest uptick on record—but very few buyers are being lured in by falling mortgage rates
Early predictions for the 2023 housing market are all over the map, but experts agree that the speed of home sales depends on the trajectory of mortgage rates in the near future
The residential construction industry is still confronting a series of hardships left behind by the devastating COVID-19 pandemic, but a housing correction is creating new hurdles as well
As high mortgage rates take center stage in 2023, home sales could fall to their lowest level since 2011, and home prices will likely follow a similar downward trajectory
After posting strong gains in a red-hot mid-pandemic market, rent growth appears to be cooling at the close of 2022, and measures of inflation could follow closely behind