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Factors include expected home value growth, projected change in owner-occupied households and job growth compared to new construction. The housing market is expected to continue to cool in 2023 as the high monthly cost of a mortgage continues to dampen sales volume. Of course, this national slowdown will affect the nation’s 50 largest markets in different ways, and some markets appear more likely to navigate these choppy waters than others. Specifically, Zillow expects Charlotte to be the nation’s hottest housing market in 2023, with Cleveland, Pittsburgh, Dallas, and Nashville filling out the top five
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February 2, 2023
Mortgage rates inched down again, with the 30-year fixed-rate down nearly a full point from November, when it peaked at just over seven percent. According to Freddie Mac research, this one percentage point reduction in rates can allow as many as three million more mortgage-ready consumers to qualify and afford a $400,000 loan, which is the median home price.
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