News Reported Previously-owned home Sales dropped 17.8% for 2022.

[Samantha Simantiris]

Wall Street Journal reported Sales of previously owned homes slid 17.8% in 2022 from the previous year to 5.03 million. Although we are seeing  downtrend in home sales , there is some positive news. The average rate on a 30-year fixed rate Morgage fell to 6.15% this week, representing the lowest rate since September. This downward trend in borrowing cost could signal that the worst of this negative real estate environment might be behind us. What do you guys think? Do you think it will get worse or better for residential real este?