Home Prices Expected to See a Slight Decline
Published: Jun. 22, 2023 at 6:00 AM EDT|Updated: 18 hours ago
Mortgage rates could drop to 6% by year-end, but the total count of home sales is likely to be the lowest since 2012
SANTA CLARA, Calif., June 22, 2023 /PRNewswire/ — Mortgage rate lock-in will continue to be a major challenge for the housing market in the remainder of 2023, according to the Realtor.com® 2023 Forecast Update. While prices have eased slightly, higher mortgage rates are hurting affordability, and many of those who already own a home are not incentivized to list.