Home price growth is slowing, with potential declines in some markets, particularly Florida. New listings remain strong despite economic uncertainty. Experts question if financial turmoil will drive prices down. Keep eye on 2022 patterns.
During that time, monthly mortgage payments have nearly tripled, said Redfin Senior Economist Sheharyar Bokhari — and while rents spiked during the pandemic, a recent apartment construction boom has kept rents "relatively flat over the past two years as home prices and mortgage rates continued to climb," Bokhari noted.
The events of the past few years have been a shock to the system for residential real estate: Lawsuits that have changed how agents get paid and challenged their value, a frozen housing market, NAR upheaval.
