Record High Prices and Rates Make 2023 the Worst Time to Buy a Home in Decades
-
A record 85% of Americans say now is a "bad time" to buy a home due to high prices and mortgage rates.
-
Frustration remains high with housing unaffordability and inflation, depressing homebuyer sentiment.
-
The monthly mortgage payment for a median-priced home hit a record high of over $2,500.
-
Buying a home now takes over 40% of the median household income, making this the least affordable market since 1984.
-
Home prices may start to weaken later in 2023 as high rates and low affordability weigh on buyers.