MARKETS EDITORIAL DESK, THU 14 DEC 23
The pressure of climbing interest rates, stretched affordability and the “fixed rate cliff” stress-tested the housing market through 2023, however, resilience largely prevailed.
“Housing activity rebounded through early 2023 as buyers took advantage of lower prices, however towards the end of 2023 affordability constraints have become more pressing, skewing demand towards the middle-to-lower end of the pricing spectrum,” Owen said.