Home prices in 2023 remain high, though not as high as they were in early 2022. The fluctuation in interest rates has caused some homebuyers to re-enter the market, while causing others to hold out to see where the market goes. The overall housing supply remains limited and has kept prices from substantially dropping off. If home prices drop, it will likely depend on where mortgage rates go. Working with a local real estate expert and a mortgage expert is crucial in getting you ready to purchase. Knowledge is power and preparation is key. Buying a home is a highly personal decision. It is crucial to be in a solid financial position before diving in. Instead of waiting for home prices to drop, find a home that fits your budget and needs.
