U.S. Home Prices Hold Steady Amid High Mortgage Rates

Despite elevated mortgage rates, home prices are expected to remain stable due to limited supply and steady demand.

Average 30-year mortgage rates hover above 7%, with minimal fluctuations anticipated in the near term.
Experts predict home prices will not fall significantly nationwide, supported by low inventory and ongoing demand.
Potential homebuyers face challenges with affordability as high rates deter new entrants and discourage current homeowners from selling.
Some regional markets might experience price adjustments, but major declines are unlikely due to the strong underlying market fundamentals.
Financial analysts advise prospective buyers to explore multiple lending options to secure the best possible mortgage rates.