If you check out the graph in the video, you will see the black line, which represents home prices in 2023, falls below both 2022 (green) and 2021 (red) home prices. However, follow the black line through June and it holds steady with 2022 numbers. (The only difference is the extreme peak in 2022 shown by the green line in the month of May.) This spike in May 2022 was the height of the real estate market before it adjusted. The bottom line is that in spite of the higher interest rates, home values in the 1st half of 2023 held steady thanks in large part to the tightest inventory we have ever seen.
2023 Real Estate Mid Year Analysis
