WTNH cited 2023 predictions by Realtor.com in the article “Hartford metro area expected to lead as top housing market across the U.S. in 2023 “.
They suspect that homebuyers have been open to leaving large urban cities for more affordable metro areas – like Hartford.
Realtor.com noted that this is likely due to the early stages of the COVID-19 pandemic, which saw mortgage rates drop to record lows. However, in 2022, the Fed increased the policy interest rate, making borrowing more expensive. The low prices skyrocketed in a 10-month surge from 3.1% to almost 7.1%.– News 8 WTHN.com
read the full article