The thought of buying a home comes with many questions. chances are you’re paying attention to just about everything you hear about the housing market. The variety of housing market information from various information channels can become overwhelming. The best way to find accurate information is to look at data.The two most important pieces of data to find are the estimated home price performance and Mortgage rate projections.
One reliable place you can turn to for that information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists. The small 0.37% depreciation HPES is showing for 2023 is far from the crash some people originally said would happen.
Mortgage Rate Projections for 2023 display a decline slightly towards the end of 2023. The most recent housing forecast from Fannie Mae calls for the average 30-year fixed mortgage rate to close out the year at around 6.3%