The Money Section | Car and home prices are coming down – find out where

͏Plus, a trick that’s helping Americans outpace inflation. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [The Charlotte Observer]( February 22, 2023 • Issue #21 [The Money Section] This week, we’re looking at the cities where home prices are likely to drop the most, the career move that can help you make more money during inflation, and the much-awaited decrease in new car prices. Good news for homebuyers. [Drop]( Getty Images In certain cities across the US, home prices are expected to fall between 5% and 18%. The predicted drop in home prices may offer some relief to potential buyers struggling with high mortgage rates, increased demand, and limited inventory. These are the [5 cities where home prices are forecast to fall the most in 2023.]( 📉 The new normal. The recipe for 2023′s housing market is shaping up as prices are now stable (and even dropping in some areas), interest rates are declining (but not hugely), and buyers’ incomes are rising. Experts think, however, that we will still be very far from the pre-pandemic 3% rates. In this volatile housing market, [here's how to know when the bottom is in.]( 🤺 A housing standoff. Home sales are ticking up and price declines are leveling off as buyers ready for the spring sales season. But sellers have yet to join the fray — the number of homes for sale is the second-lowest on record — meaning stiff competition for well-priced homes, according to the latest Zillow market report. What mortgage rates do next will have a [huge impact on the market's momentum.]( A lucrative career move. [Wages]( Eddie Lee / Money; Getty Images A report from the Federal Reserve Bank of Atlanta reveals that 49% of American workers who changed jobs last year received a pay raise that outpaced inflation, while the figure was only 42% for workers who kept the same job. This is a significant increase from 2019, where there was only a small difference between the share of job switchers and non-switchers who had real wage growth. [Read more.]( 👨 💻 Two jobs at once? Employers tend to believe they’ve purchased their employees’ full attention during work hours. However, the rise in remote work has caused a surge in people who are secretly working two or more full-time jobs without their employers’ knowledge. [Here’s what you need to know about this trend.]( 🤑 No degree, no problem. High-paying jobs abound, even for the degreeless — and many sit unfilled. American society, with its relentless focus on college completion, sometimes ignores high-paying fields that require only modest vocational training or apprenticeship. Read on to find out about the [twenty high-paying jobs that don’t require a college degree.]( New, affordable wheels. [Afford]( Getty Images In January, the average price of a new vehicle declined from an all-time high in December, falling by $310 to $49,388, according to Kelley Blue Book. Average incentives from manufacturers increased to 2.8% of the average vehicle price, up from 2.7% the month before. The inventory of new vehicles is steadily improving, which could be the reason for slightly [lower prices and more incentives.]( 🚘 New or used? Used car prices are dropping fast — 11.5 % cheaper than this time last year. On the other hand, high-interest rates are making potential new-car buyers pump the brakes on a purchase. [Is it cheaper to buy a new car or used vehicle?]( 🏷️ A much-needed deflation. What do smartphones and bacon have in common? The prices of these products have dropped, defying high inflation and surprising market insiders. Read on to find out what other items have not only slowed down on price hikes, [but reversed altogether.]( Smart Money Move Ready to save time, money, and headaches on taxes? [Tax] [Tax]Filing taxes may not be exciting, but doing them right can literally pay off. Tax preparation software makes this process less daunting and helps you get the most out of any refunds. These programs can do the heavy lifting by itemizing deductible expenses, making real-time calculations, and automatically filling out forms so you can save time and reduce errors. Whether you're a seasoned tax pro or a first-timer, using tax preparation software is a smart investment that can save you time, money, and headaches. Visit our [Best Tax Preparation Software]( list to find a better, more efficient way of doing your taxes in 2023. Stories we're reading this week - [Here Comes the 60-Year Career]( - [8 Key Student Loan Dates to Put on Your Calendar]( - [TikTok and Reddit are obsessed with this financial question about inflation]( - [Household Debt Just Grew at the Fastest Rate in 20 Years]( - [Why is there so much secrecy in philanthropy?]( - [5 Signs You’re Not Making Enough Money]( - [Inverted Yield Curve: What This Key Market Indicator Means for Your 401(k)]( The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive marketing emails or newsletters from The Charlotte Observer. If you no longer wish to receive emails of this type, you may [unsubscribe]( or [update your email preferences](. We are unable to monitor replies to this email. Please [contact customer service]( if you have any questions or concerns. [Privacy Policy]( | [Terms of Service]( | [View in Browser]( Copyright © 2023 The Charlotte Observer. 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