Housing Market Predictions For 2023: When Will Home Prices Be Affordable Again?

Housing Market Predictions For 2023: When Will Home Prices Be Affordable Again?

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Though summer temperatures have been scorching hot across many parts of the country, housing market activity remains tepid.

The national average 30-year fixed mortgage rate ended in July where it started before edging near 7% the first week of August. A basis point is one-hundredth of one percentage point.

Meanwhile, existing monthly home sales dropped 3.3%, with all four major U.S. regions posting year-over-year sales declines, according to the National Association of Realtors (NAR).

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