{"id":19455,"date":"2022-09-30T11:25:29","date_gmt":"2022-09-30T15:25:29","guid":{"rendered":"https:\/\/propy.com\/browse\/?p=19455"},"modified":"2022-10-10T17:06:44","modified_gmt":"2022-10-10T21:06:44","slug":"market-trends-3-things-to-expect-in-an-unsettled-housing-market","status":"publish","type":"post","link":"https:\/\/propy.com\/browse\/market-trends-3-things-to-expect-in-an-unsettled-housing-market\/","title":{"rendered":"Market Trends: 3 Things to Expect in an Unsettled Housing Market"},"content":{"rendered":"

Fluctuating interest rates, home prices, and continued inventory woes in high demand areas are generating confusion for home buyers and sellers.<\/h4>\n
<\/div>\n

\"\"<\/p>\n

<\/div>\n

Here’s what to expect:<\/strong><\/p>\n

1. Mortgage rates will continue to rise<\/h3>\n

As inflation increases, the average rate of a 30-year mortgage has exceeded levels not seen since the 2008 financial crisis. According to Bankrate.com<\/a>, the current average is just over 6.4% vs. 3% last year.<\/p>\n

2. Housing inventory is increasing<\/h3>\n

Property time-on-market has increased and more properties have become available, especially in higher price points. Marketwatch has estimated an excess of 20,000 homes for sale for buyers earning $200,000 a year.<\/p>\n

3. Housing prices may cool, but not fall<\/h3>\n

Housing demand remains high even with rising interest rates. While sales will slow, prices are not expected to fall significantly \u2014 although activity varies by market and price point.<\/p>\n

Zillow expects prices to continue to increase by 9.7% through May 2023, Capital Economics sees a home price growth decline of 5% by mid 2023, with a \u201cgradual recovery\u201d to 3% annual price growth by the end of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fluctuating interest rates, home prices, and continued inventory woes in high demand areas are generating confusion for home buyers and sellers. Here’s what to expect: 1. Mortgage rates will continue to rise As inflation increases, the average rate of a 30-year mortgage has exceeded levels not seen since the 2008 financial crisis. According to Bankrate.com,… Read More »Market Trends: 3 Things to Expect in an Unsettled Housing Market<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":19456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"off","neve_meta_content_width":70,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[11791],"tags":[],"yst_prominent_words":[7419,780,2101,5540,2430,1274,338,3218,1645,2585,6895,1670,583,5421,504,529],"class_list":["post-19455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market"],"acf":[],"_links":{"self":[{"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/posts\/19455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/comments?post=19455"}],"version-history":[{"count":5,"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/posts\/19455\/revisions"}],"predecessor-version":[{"id":19553,"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/posts\/19455\/revisions\/19553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/media\/19456"}],"wp:attachment":[{"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/media?parent=19455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/categories?post=19455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/tags?post=19455"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/propy.com\/browse\/wp-json\/wp\/v2\/yst_prominent_words?post=19455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}