Predictions: Chilly Market Ahead For Housing In 2023, Conditions Improve In 2024

By CHUCK GREEN According to experts, not only is the housing market expected to continue cooling this year, the forecast remains chilly entering 2023. Real house prices jumped 10.5% in September and logged a 60.6% YOY increase, according to First American’s Real House Price Index. But prices fell in 15 out of the top 50 markets they analyze. Mortgage originations saw their largest annual decline in 21 years this fall, further evidence that the housing boom is coming to an end. Originations fell 47% YOY in Q3, according to ATTOM Data’s Q3 2022 U.S. Residential Property Mortgage Origination Report. Quarter-over-quarter they were down 19%, the sixth consecutive drop. So, what in the name of the cranky barometer’s up? For one thing, surprise, surprise,…