What will U.S. house prices look like in 2023?

By Becca Stanek |   Jan 13, 2023

Amid peaking prices due to inflation and murmurs of an upcoming recession, you might be wondering: What's up with the housing market for 2023? Mortgage rates started to decline in the final weeks of 2022, and demand for housing is similarly expected to fall in the new year. Price growth is also expected to cool — though by how much remains unclear. Whether you're a hopeful buyer or seller in 2023, or just someone who likes to keep tabs on the housing market, here's a closer look at what to expect this year.

Zillow names Charlotte as 2023's hottest housing market

By Zillow® |   Jan 12, 2023

Zillow's 10 hottest markets are based on factors such as expected home value growth and buyer demand:

• Relatively affordable metro areas dominated Zillow's hottest housing markets list, led by Charlotte, Cleveland and Pittsburgh.

• Buyers who can overcome acute affordability challenges will find a friendlier market than in recent, record-setting years.

• San Jose, Sacramento and Minneapolis are projected to be the coolest markets.

Consumer confidence in housing finally rises, thanks to falling home prices

By Diana Olick, CNBC |   Jan 12, 2023

"Mortgage rates are still twice what they were a year ago, but home prices have been falling since June, and that’s finally making consumers feel better about what had been an overheated, highly competitive housing market."

'Low' Interest Rates May Cost Borrowers Big Money

By Jason Neuffer |   Sep 02, 2022

A higher percentage of homeowners than ever before have interest rates below 3.25%. Is it a good financial decision to keep that rate or is it a false sense of financial security?

The average homeowner lives in their home for eight years. Unless they have purchased their forever home, they will be financing another mortgage at the time of the next purchase and will be subject to current interest rates. The idea that they are locked in for 30 years (unless they are one of the few who actually stay in their home for 30 years) is already a false sense of security. The best way to ensure financial stability is to eliminate high-interest debts, even at the expense of a low-interest first mortgage.