01/27/2023
WHAT THE EXPERTS ARE SAYING ABOUT THE HOUSING MARKET:
RISMedia spoke with Realtor.com’s Chief Economist Danielle Hale and brokers from some of the top markets listed in the report. Here are their insights.
“The housing market has not been easy for anyone over the last few years, and this has been especially true for first-time home buyers. Soaring home prices and mortgage rates raised both the upfront and monthly costs of homeownership at a time when rising rents and overall inflation made it harder to save up for the purchase,” said Realtor.com Chief Economist Danielle Hale. “Fortunately, there are signs of relief on the horizon. Recent data has shown that inflation is slowing and both rent growth and home price growth have eased up. While the cost of buying a home is expected to remain high, in 2023 home shoppers are likely to find more options on the market and reduced competition will mean that they may also have more time to evaluate options before submitting an offer.”
