Mid-Year Housing Recap and Predictions

As we pass the midpoint of 2023, it’s a good time to take a look at what’s happened in the housing market so far this year and consider what could happen in the second half of the year. 

The big headline from housing so far has been the resilience of home prices. Even as mortgage rates have hung around 7% and sales volume has dropped about 50% from June 2021 to June 2023, prices are somewhere between flat and -3% YoY, depending on who you ask. 

No matter what data you look at, so far, the calls of a market crash have been incorrect. In fact, recent trends suggest home prices could even be up by year-end. 

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