This is where experts predict the housing market will head in the second half of the. The simplest and most affordable decision for many Americans will be to stay in place even if their homes become too small, too big, too crowded, too far from work, too isolated from family, or too much to support. Rising Federal Reserve interest rates have led prospective homebuyers to turn to the rental market, making a tight market even tighter. For months, housing economists have been predicting that the housing market would eventually cool down as home values became victims of their own success.
The housing industry boomed last year, with the most significant annual increase in single-family home values and rents, historically low foreclosure rates, and the highest number of home sales in 15 years, reaching 6.9 million year-round. Therefore, you are thinking a lot about buying or selling a home and want to know what the housing market will look like.
