Economics 101 draws the relationship between supply and demand. High demand plus low supply equals higher prices. Low demand plus high supply equals lower prices. Certainly, because of higher interest rates, fewer people can qualify for a mortgage and therefore the is less demand. BUT there has not yet been a significant increase in supply. It is my sense that demand is still outstripping the number of listings coming on the market. If I am correct, until significantly more listings come on the market, then values should remain within the range of flat. Whether or not values move up or down incrementally will be determined by the market segment and supply of homes therein.

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