House prices will rise 5% on low supply levels, Zillow economist says

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Low housing supply could squeeze home prices up 5% in 2023 even though mortgage rates have spiked, Zillow economist says

and rack up another year of solid gains, according to Zillow's chief economist.

Olsen's bullish outlook for property prices comes amid growing evidence of a fall in homes coming to market, with listings down 39% from the pre-pandemic era as of May, per Zillow data.

 

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