The United States real estate market is, as of February 2023, still experiencing a high demand for homes, but a low supply of available homes for sale. This makes it a sellers market. This trend had been ongoing, driven by several factors, including low mortgage rates, a desire for more space due to the pandemic, and a strong economy. If you’re a seller, things are pretty good and you can ask for a high price. This demand for housing, coupled with the low inventory of homes for sale, has resulted in an increase in home prices, with many areas experiencing double-digit price appreciation. This has made it challenging for first-time homebuyers and those with lower incomes to enter the market. Despite the high demand, there were concerns about the potential for a housing bubble, as some experts believed that the rapid price appreciation was not sustainable in the long term. Additionally, rising construction costs and a shortage of skilled labor were contributing to the lack of new housin