Amid the backdrop of high inflation, elevated mortgage rates and slowing sales activity, severely limited housing inventory will prevent large home price drops for most of the country next year, according to NAR Chief Economist Lawrence Yun. "For most parts of the country, home prices are holding steady since available inventory is extremely low," Yun said. Keep in mind that Austin has been one of the best, if not the best real estate market in the country for years so I expect us to fair better than the national forecast given by Mr. Yun.
Full Article here: NAR's Lawrence Yun Predicts US Home Prices Won't Experience Major Decline, Could Possibly Rise Slightly in 2023
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