An update to the 2023 housing outlook. A look at national economic trends and how they affect the housing market. We look at a number of factors like employment, disposable income, savings rates, and what is likely to happen to home prices in the rest of 2023 and into 2024 and the next 5 years. Home prices are most likely to go up than go down in the future.
Mortgage interest rates are higher than they were last year but they are still down from the highs of over 7% which softened home prices quite a bit. There is very little likelyhood home prices will crash in 2023 and about a 63% there will be a recession in 2023.