At the end of last year, I made some guesses about the housing market in 2023. Well, here we are, six months into the new year and how did those predictions turn out? I spoke with economist Kathryn Rooney Vera, Chief Market Strategist, StoneX and we had a freewheeling conversation about the housing market and I’ll combine her observations with an evaluation of mine from last year.

Skyrocketing interest rates through most of 2022 put some much-needed pressure on the housing market after home prices hit record highs across the nation. However, since December, mortgage rates have been on a steady decline through the beginning of February. Even so, many economists remain mixed about whether home prices will continue to decelerate throughout 2023—or even drop at all.