Warren Buffett's Berkshire Hathaway expects housing market price changes soon
The billionaire's real estate firm expects housing market fluctuations to play a major role in home prices this year.
Homebuyers have faced a turbulent housing market over the past few years. Rising home prices and elevated mortgage rates have forced many Americans to reconsider or postpone homeownership until conditions become more affordable.
In 2020 and 2021, home prices skyrocketed as moving patterns shifted from cities and homebuyers began to take advantage of record-low mortgage rates below 3%. After the initial Covid-era housing boom, surging inflation in 2022 exacerbated housing prices that were already on the rise.
