Key to Finding Hot Markets Investors should be aware of several housing trends that will likely play out.
by Marco Santarelli
D espite fears of a looming recession, the U.S. housing market is expected to gain momentum in the coming years. The country’s population is growing and the economy is expanding, which should result in increased demand for home purchases. However, one of the biggest factors affecting home prices in 2023 will be the interest rate environment. The good news is that most experts don’t expect mortgage rates to rise much, if at all, in 2023. Still,
monthly mortgage payments are predicted to be roughly 28% more than last year and twice as high as they were in 2021. To put things into perspective, monthly mortgage payments were almost three-quarters bigger in October 2022 than they were in 2021. Hopefully, during the first half of 2023, we will see inflation come down and get more clarity about what is happening with the economy. Whether home prices will drop in 2023 and by how much depends on who you ask.
2 :: INVESTOR REVIEW :: MAR-APR 2023
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