Realtor.com Update
- Home price growth will flatten, with a forecasted increase of 1.1 percent
- Inventory will remain low, but the rate of decline steadies and the mix of homes for sale shifts toward greater availability of lower-priced homes
- Mortgage rates remain low and may slide under 3 percent by the end of the year
- Home sales are constrained by low inventory and diminished seller and buyer confidence as the effects of COVID linger in the labor market
- Buyers seeking affordability and space drive interest in the suburbs
