Analysts say the US housing market will avoid a 2008-style crash and prices will only drop by 5% in 2023
The US housing market will avoid a 2008-style crash, as home prices are only set to drop modestly in 2023, according to a recent poll of analysts conducted byAccording to 29 analysts who were surveyed by the news outlet over the last week, home prices are only estimated to decline by an average 4.5% in 2023, and 10% overall from their recent peak.
Meanwhile, mortgage rates were expected to fall slightly from current levels. The 30-year fixed-rate mortgage will drop to an average of 6.35 % this year, down from its current level of 6.5%, respondents said.
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