Where Are Home Prices Going?

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Interest rates have been rising to do to the FED is increasing rates to try and stem the huge increase in inflation. The bond market controlling interest rates has also been increasing. Now that it is obvious that inflation is not transitory, and many Americans are suffering because of skyrocketing prices, inflation is here to stay awhile. The rise in fuel prices affects everything transferred by trucks. Supply-side shortages are also affecting inflation, and much of the cause cannot be controlled because of Covid.

Affordability may start cooling the market. With the large increase in home prices, and now the rise in rates, fewer people can afford to purchase a new home. I expect the market to slow down, but prices to remain firm at least through the remainder of the year.

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