By Tirupati Gumpula
All Image credits to Unsplash, Shutterstock and Everette collection.
The banking finance Goldman Sachs has some interesting things to say about the Real Estate housing market in the US. These prices don't necessarily low as they are predicted to reduce even more.
For home sellers, it is worth noting that the housing market downturn is going to be even worse in 2023. So, plan your actions accordingly.
As per the predictions, there will be a 0% growth in the housing market in 2023. Sudden declines can be possible in national home prices in some places.
Zillow forecasts that real estate prices in San Jose, California, will drop by 3.6% by July 2023, while prices in San Francisco would drop by 1.8%.
Even though we could see smaller declines. We may not see outright declines in home prices as they are already at their peak for some time now. We might see a little drop.
Despite predictions of small declines, home prices continue to rise in the next 5 years due to limited inventory and inflation.