Exciting News for Home Buyers and Sellers: Housing Prices Expected to Decline 5-7% this Year
Channel: Steve Dainard - Mortgage Broker Niagara
Date: 2023-02-28

Exciting News   Exciting News for Home Buyers & Sellers! Housing Prices are Expected to Decline by 5 to 7 percent this Year
Hey guys, welcome back to our channel where we bring you the latest news on the mortgage and real estate market. Today we have some exciting news for homeowners and prospective buyers.
According to a recent report by Fitch Ratings, home prices are expected to decline by another 5 to 7 percent this year. But hold on, don't be disheartened just yet. Despite the decline, the prices will still remain above the pre-pandemic levels due to high demand.
As you can see from the graph, the housing market experienced a significant spike in prices during the pandemic, and now we're seeing a slight correction. This is great news for buyers who have been waiting for an opportunity to enter the market.
With the decline in prices, you can now get more value for your money, and that's always a good thing. Additionally, interest rates have been improving, making it an ideal time to buy a house.
For homeowners who are planning to sell, don't worry, your investment is still safe. Despite the slight decline, the market is still strong, and demand is high. So, you can still expect a good return on your investment.
To sum up, the housing market is continuing to experience slight corrections, which is a healthy sign for the industry. For buyers, this is an excellent opportunity to enter the market, and for sellers, your investment is still safe. 
That's all for today. Stay tuned for more updates on the mortgage and real estate market. Please make sure to like this video and subscribe to our channel. Until next time, take care and happy house hunting!