Realtor.com® Housing Forecast: Homebuying Costs Aren't Coming Down in 2023
Although home sales are expected to slow overall in 2023, Realtor.com ® 's forecast points to the possibility of a second wind in buying activity in the second half of the year. With mortgage rate hikes projected to continue through March, the Spring season will likely be less busy than in a typical year as buyers and sellers recalibrate their expectations around smaller budgets. (to 4.53 million) -13.8% year-over-year (to 5.28 million) 8.5% year-over-year (to 6.12 million) 2.0% year-over-year (to 5.27 million) Existing Home For-Sale Inventory +22.8% year-over-year +4.0% year-over-year -19.4% year-over-year -3.5% year-over-year Single-Family Housing Starts -5.4% year-over-year -9.6% year-over-year 1.1 million 0.8 million Homeownership Rate 65.7% of U.S. households 65.8% of U.S. households 65.5% of U.S. households 64.2% of U.S. households Rental Price +6.3% year-over-year +7.7% year-over-year +10.0% year-over-year +5.0% year-over-year
