Housing market predictions for 2023 in Charlotte, NC

From fluctuating interest rates and low inventory, 2022 was a wild ride for the housing market in Charlotte.

So, what trends will the new year bring?

While it's been a rough year for those looking to buy a home, recently mortgage rates have been trending down.

“As mortgage rates drop, we will begin to see more people re-entering the market," Lawrence Yun, chief economist for the National Association of Realtors, said.

Yun said affordability will still be a challenge in 2023, but there will be less competition as more properties come onto the market.

READ MORE: https://www.wcnc.com/article/money/markets/real-estate/charlotte-housing-market-2023-predictions/275-24ddf4c7-1f2b-4d4c-a3b1-0b8d51e92b9d

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