Is It a Good Time to Buy a House or Wait Until 2023?
Is It a Good Time to Buy a House or Wait Until 2023?
Abstract
The average 30-year fixed mortgage rate surpassed 5% in April, a few percentage points higher than the historically low levels of 2021. In April 2022, 88 percent of homes sold were on the market for less than one month. The national median price for existing homes sold in April was $391,200, up 14.8% from the same month in 2021. In April 2020, the median home listing price is up 32.4% compared to two years ago. The percentage of respondents who say mortgage rates will go down.
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