Even in the calmest of economic times, mortgage rates are tough to forecast. In the uncertain economy of the post-pandemic era, though, mortgage markets have been especially unpredictable.

In late 2022, as rates surged past 7 percent, credible observers said 8 percent could be next. Luckily for homebuyers and sellers, that move turned out to be a head fake. In early 2023, rates reversed course – they steadily fell, spawning new predictions of sub-6 percent rates in the near future.

2023 stands to be another strong year for sellers. If you're thinking about selling your home, being aware of the trends in the market will help you understand the strength of the market. 

Our monthly market update showcases everything you need to know about local real estate trends over the last month.