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Interest Rates Are Rising—Will Home Prices Drop?

Thursday, March 16, 2023   /   by John Salkowski

Interest Rates Are Rising—Will Home Prices Drop?

Home prices are maintaining, and the market isn’t likely to crash.

Will home prices drop with rising rates? Before I answer this question, I'd like to give a shout-out to our sponsor, Dan Avanzato from North Star Mortgage. Whether you're looking for pre-qualification, pre-approval, or refinancing, you can reach out to him at Dan@NortstarMortgage.com.

Now, let's address the frequently asked question of whether home prices will decrease with rising interest rates. Despite the volatility of rates, we're currently in a seller's market, and inventory remains low. This shortage of available homes has resulted in a continued increase in home prices.

To clarify, the housing market is not expected to crash. The reason why we had a crash in 2006-2008 was because of the practice of giving out loans without adequate documentation. Nowadays, acquiring a mortgage requires good credit and a well-qualified financial profile.

Overall, home prices are not decreasing, and in fact, are maintaining. We are back in a normal market, and homes that are in great condition and location are selling above list price. If you're considering selling your property, it's better to do it sooner rather than later.

If you have any questions or would like more information about the market, feel free to call or email me, my team, or our office. We look forward to hearing from you!


The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which John Salkowski - (Winback) The JRS Realty Group participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. © 2024 BRIGHT, All Rights Reserved Information Deemed Reliable But Not Guaranteed. Data last updated: June 16, 2024 9 AM.
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