Despite an increase in properties listed for sale and rising mortgage rates, analysts believe a price drop is not on the horizon, reports NL Times.

According to agency data, price growth is expected to slow from 2.5% this year to 1% next year. Furthermore, despite record sales figures, market supply significantly exceeds the actual number of completed transactions. The rising inventory is also linked to a significant number of investors selling off rental properties.

The key factor dampening demand remains rising mortgage interest rates: the average 10-year fixed rate has risen to 4.4% (up from 3.6% a year earlier).