What does 2023 hold for the housing market? Here's what experts have to say about what lies ahead.
Some experts call for slight appreciation and some call for slight depreciation on a national level.
In short, home price appreciation will vary by local market. It's all about supply and demand. But, the average is neutral price appreciation for the country.
Where mortgage rates will go from here largely depends on what happens with inflation in the year ahead. Greg McBride, a Chief Financial Analyst from Bankrate said:
"...mortgage rates could pull back meaningfully next year if inflation pressures ease."
Home sales are projected to be lower than 2022 due to higher mortgage rates that have moderated buyer demand.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. All information in this blog is pulled from Keeping Current Matters, Inc., which does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.
NMLS Consumer Access #150953
All Rights Reserved | Luminate Home Loans, Inc
Luminate Home Loans, Inc. a wholly owned subsidiary of Luminate Bank
NOTICE TO TEXAS CONSMERS: CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”