Here's what you need to know.
Home values are dropping faster than expected with many individuals and sellers taking them off of the current market. House values are slipping all across the country because of the high mortgage rates and the government imposed interest rates.
The house market is getting worse and worse with many houses losing the value that they once had. Many individuals are losing faith in the house market with the mortgage rate reaching levels that have not been seen before and the interest rates reaching new highs that many individuals cannot afford. This is hurting the house market in many ways.
Experts suggest that individuals wait and save their money due to the high mortgage rates that are effecting the country.