Home Sellers are on STRIKE! Fewer Homes for Sale in 2023 and 2024

Housing forecast for 2023 and 2024 as fewer homes are for sale. Sellers are locked into their low interest rate mortgages and not able to sell and buy another home. This is a unique phenomenon that has not occurred prior to 2020. Because of this low inventory there is a significant chance that there will be fewer sales in 2023 and 2024 compared to last year.

The calls for a housing crash are not being seen as home prices have not fallen much in the last year and it is unlikely that a real estate bubble will occur. Home prices will never be the same based on this data and it is going to make home affordability even harder for entry level home buyers.

First time home buyers will be hurt the most as home sellers keep their low interest rate mortgages over the next few years.

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