Listed homes are selling fast despite rising home prices—but sales are heading down. Read more from NAR’s latest housing report.
The housing market was thrusted into hyperdrive by historically low interest rates. Will it finally begin to slow this year as the Federal Reserve raises rates to fight inflation?
The number of homes sold in 2022 has declined by something like 10 percent as housing demand weakens. Prices haven’t fallen in every market, but price hikes have slowed dropping from 20 percent to perhaps 5 percent annual growth by the end of this year.
If the latest forecast proves to be accurate, home sales would decline 11.1 percent this year and by another 11.6 percent in 2023. Contact me to discuss how the changing market could effect you.
