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Higher Home Prices and Mortgage Rates Pose Challenges for Home Buyers in May 2023

July 15th, 2023 by Katherine Figueroa Santiago

The National Association of REALTORS (NAR) recently released its Economist's Outlook report for May 2023, shedding light on the current state of the housing market. While the overall economy continues to show signs of recovery and growth, prospective home buyers face significant hurdles due to rising home prices, mortgage rates, and a limited inventory. In this blog post, we will delve into the key findings of the report and discuss the implications for those looking to enter the housing market.

One of the primary challenges for potential home buyers in May 2023 is the growing disparity between qualifying incomes and median family incomes. As the report suggests, qualifying i...

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Higher Home Prices and Mortgage Rates Pose Challenges for Home Buyers in May 2023

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Higher Home Prices and Mortgage Rates Pose Challenges for Home Buyers in May 2023

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