Home prices will likely continue to grow in most markets but at a slower pace.
If a recession is on the horizon for 2022-23, it could mean the housing market is bracing for a cool down after years of hot demand driving prices higher — but that doesn’t mean homeownership will become more affordable for prospective buyers.
“If the economy were to weaken or a recession were to hit, that would further weaken demand,” and it could lead to a deceleration in price growth.
