Berkshire Hathaway HomeServices Market Update | Q4 2022
Berkshire Hathaway HomeServices CEO Christy Budnick shares valuable insights on the activity of the residential real estate market in the fourth quarter of 2022. The U.S. real estate market in 2022 was primarily characterized by strong crosscurrents of surging mortgage rates and very low levels of available inventory. The lack of available inventory has impacted the U.S. regions to varying degrees and the combination of significant increases in both home prices and mortgage rates throughout 2022 has, not surprisingly, led to a sharp decline in the overall U.S. Housing Affordability Index.