The US housing market has been slowing down in the past few months as interest rates continue to climb.

But Goldman Sachs has warned prospective home sellers that the housing market downturn is expected to worsen in 2023. And for interested home buyers, this doesn’t necessarily mean lower home prices.

“We expect home price growth to stall completely, averaging 0% in 2023,” Goldman strategist and economist Jan Hatzius wrote in a memo to clients. “While outright declines in national home prices are possible and appear quite likely for some regions, large declines seem unlikely.”

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