Why Home Owners are NOT Selling: Housing Inventory Approaching Lowest in DECADES
People looking to buy in 2023 are going to be shut out of the housing market for two reasons, a lack of available homes and high mortgage rates making home ownership relatively unaffordable. The average number of years people stayed in their homes was 7 just a decade ago and now its closer to 11 with investors keeping rental properties for even longer.
What will home prices look like in 5 years? Likely higher than today.