Will Home Prices Bottom Out in 2023: Home Price Trends in 2023-2024
One of the economists predicted that home values would stabilize in 2023 and take off again in 2024, going back to a more normal housing market. Currently a low number of homes for sale is keeping home prices from falling due to rising interest rates driven by the federal reserve trying to tame inflation.
Certainly commercial and industrial real estate is slowing down, with numerous office buildings in major cities having massive amounts of vacancies. California cities like San Francisco have been the hardest hit.
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