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What to expect from Seattle's housing market in 2023

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Rent prices will also drop, Redfin says, leading prospective millennial and Gen Z buyers to upgrade their apartments instead of buying houses.

Home sales have declined in Seattle, part of an expected national trend. Photo: Mike Kane/Bloomberg via Getty Images

Home sales next year may fall to their lowest level in more than a decade, Seattle-based real estate company Redfin predicts.The number of homes sold in the U.S. is expected to decline about 16% in 2023 over 2022 to the lowest level since 2011. The company cited high mortgage rates, still-high home prices, persistent inflation and a potential recession as causes for the slowdown.The U.S.

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귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

Property owners are paying more thanks to interest rate increases. They will pass along their cost increases to renters. Rents are going up, not down.

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