How Will Rising Interest Rates Impact Housing Market in 2023?
- Seattle, Portland, San Francisco
- 2022/12/07
The rise in rates has reduced the number of home sales on the market. Sellers are less motivated to sell in an economy with higher interest rates. With fewer properties on the market, home prices are pushed higher, even in a slowing market. Nationwide, home prices are still rising or holding steady. The strength of the housing market in 2023 will depend on next year’s mortgage rates, according to analysts. One thing that may not change much in 2023 is rising home prices due to the economy’s limited supply of inventory.
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