Author: Swapna Venugopal Ramaswamy, USA TODAY

The housing market across the US is cooling down, but does that mean it’s headed for a crash? Here’s what experts expect to happen in 2023.

In March, 33% of homes listed for sale were new homes in various stages of construction. That share from 2000-2019 was a 13% average.

These metros remain a relatively affordable place to live and work, attracting people and businesses while other metros have become unaffordable.

The poll reflects the frustration of potential homebuyers. Few Americans think it is a good time to buy a house, even compared to the Great Recession.

While new home construction is taking on an increased role in the marketplace, they continue to face ongoing challenges.

From 2016 to 2023, home prices in the 50 largest metros climbed 73%, whereas rent prices went up by 45%.

The average rate on 30-year fixed mortgages dropped for the second consecutive week, leading to a quick impact to mortgage and refinance applications.

A report found that KeyBank’s share of mortgage originations to Black borrowers was the lowest among the nation’s 50 largest home purchase lenders.

Among the major U.S. regions, the South saw the largest share of single-family existing-home sales (46%) in the first quarter.