Where are prices, credit access, purchase age trends, market velocity, and the stubborn low-supply of for-sale inventory headed in the next 12 months.
Redfin chief economist Nela Richardson has a read on these five bucket areas, and more, aided by the insight of the Redfin in-the-trenches agent network, and reams of data based on searches, transactions, and household financial trends. Richardson writes:
As price growth ebbs and mortgage rates rise, more homeowners will stay put. Sales will grow about half as fast as they did this year and prices will rise at a more normal 3.5 percent to 4.5 percent, down from almost 6 percent this year.