{"id":155674,"date":"2023-07-26T15:04:49","date_gmt":"2023-07-26T21:04:49","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=155674"},"modified":"2023-10-30T06:19:50","modified_gmt":"2023-10-30T12:19:50","slug":"2023-housing-market-mid-year-report","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/2023-housing-market-mid-year-report","title":{"rendered":"The Housing Market Has Outperformed My Expectations\u2014Here&#8217;s My Mid-Year Housing Recap and Predictions"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC7688130552\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n\n<p><span data-preserver-spaces=\"true\">As we pass the midpoint of 2023, it\u2019s a good time to take a look at what\u2019s happened in the housing market so far this year and consider what could happen in the second half of the year.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The big headline from housing so far has been the resilience of home prices. Even as mortgage rates have hung around 7% and sales volume has dropped about 50% from June 2021 to June 2023, prices are somewhere between flat and -3% YoY, depending on who you ask.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">No matter what data you look at, so far, the calls of a market crash have been incorrect. In fact, recent trends suggest home prices could even be up by year-end.&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1528\" height=\"898\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image2-1.jpg\" alt=\"Median Sales Price (2012-2023) - Redfin\" class=\"wp-image-155677\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image2-1.jpg 1528w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image2-1-300x176.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image2-1-1024x602.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image2-1-768x451.jpg 768w\" sizes=\"auto, (max-width: 1528px) 100vw, 1528px\" \/><figcaption class=\"wp-element-caption\"><em>Median Sales Price (2012-2023) &#8211; <a href=\"http:\/\/redfin.com\" target=\"_blank\" rel=\"noreferrer noopener\">Redfin<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">I\u2019ve been pretty adamant that I didn\u2019t see the residential market crashing in 2023, but this price resilience has outperformed my expectations. Last October, I said I thought the market would correct between 3-8%\u2014but as of midyear, even that seems overly bearish (even though it was considered by many to be overly optimistic at the time). Of course, things could change in the second half of the year, but let\u2019s review why prices haven\u2019t fallen very much.&nbsp;<\/span><\/p>\n\n\n\n\n\n\n  <div class=\"lg:block\" x-data=\"{ ad_block_block_64c18a5d3fdb9: popAds(1) }\">\n      <template x-for=\"ad in ad_block_block_64c18a5d3fdb9\">\n        <a\n          :href=\"ad.linkURL\"\n          class=\"no-underline text-black\"\n          x-on:click=\"adClicked('https:\/\/www.biggerpockets.com\/blog\/2023-housing-market-mid-year-report', ad.sponsor, ad.title, ad.id, 'blockAdClicked', 'blockAd', '')\"\n          target=\"_blank\">\n          <div\n            class=\"py-4 border-b flex flex-col flex-nowrap text-sm border-t px-0 rounded-none\"\n            x-init=\"\n              analytics.track('blockAdLoaded', {\n                referrer: 'https:\/\/www.biggerpockets.com\/blog\/2023-housing-market-mid-year-report',\n                sponsor: ad.sponsor,\n                ad_title: ad.title,\n                ad_page_location: ''\n              })\n            \"\n            x-intersect:enter.once=\"adViewed('https:\/\/www.biggerpockets.com\/blog\/2023-housing-market-mid-year-report', ad.sponsor, ad.title, ad.id, 'blockAdViewed', 'blockAd', '')\">\n            <div><span class=\"text-xs text-slate-light block bg-slate-50 p-1 inline-block rounded-md\">Sponsored<\/span><\/div>\n            <div class=\"flex items-center text-sm space-x-4\">\n                <img :src=\"ad.imageURL\" :alt=\"ad.imageAlt\" class=\"h-10 w-10 object-cover rounded-full\">\n\n                <div clas=\"text-sm\">\n                    <span class=\"font-bold block\" x-text=\"ad.sponsor\"><\/span>\n                    <span class=\"text-slate\/80\" x-text=\"ad.description\"><\/span>\n                <\/div>\n            <\/div>\n\n            <div>\n                <span class=\"font-bold\" x-text=\"ad.title\"><\/span>\n                <p class=\"mt-2 text-slate\/80\" x-text=\"ad.body\"><\/p>\n                <span class=\"mt-2 text-themeBlue block mt-2 underline\" x-text=\"ad.linkTitle\"><\/span>\n            <\/div>\n          <\/div>\n        <\/a>\n      <\/template>\n  <\/div>\n\n\n\n\n<p><span data-preserver-spaces=\"true\">Housing prices, as with all prices in a market economy, come down to supply and demand. For most people, the expectation has been that prices would fall in 2023 because demand left the market.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">And demand has left the market. As mortgage rates surged over the last 18 months, fewer people have wanted or been able to afford a new home purchase. Demand can be difficult to measure, but I think the best place is the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.mba.org\/news-and-research\/research-and-economics\/single-family-research\/weekly-applications-survey\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Mortgage Brokers Association\u2019s mortgage purchase application survey<\/span><\/a><span data-preserver-spaces=\"true\">. It measures how many people apply for a mortgage to buy a new home (not refinance).&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1252\" height=\"598\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image4.jpg\" alt=\"Mortgage Purchase Applications (2018-2023) - Investing.com\" class=\"wp-image-155679\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image4.jpg 1252w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image4-300x143.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image4-1024x489.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image4-768x367.jpg 768w\" sizes=\"auto, (max-width: 1252px) 100vw, 1252px\" \/><figcaption class=\"wp-element-caption\"><em>Mortgage Purchase Applications (2018-2023) &#8211; <a href=\"https:\/\/www.investing.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investing.com<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">As shown, the expected demand decline has materialized. Mortgage purchase applications are down to about half of where they were in the peaks of 2020 and 2021\u2014but have been flat for the last year or so.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">So why, then, have prices not dropped? The answer is quite simple, actually. Even though demand has fallen, supply has fallen at the same time, which has kept prices stable. If you want to get a little nerdy about it, here is a&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.youtube.com\/watch?v=V0tIOqU7m-c\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">good explanation of supply and demand<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;shifts.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">But for everyone else, just think about this logically: Even though there are fewer people who want to buy, there are fewer houses to buy\u2014which means the balance between buyers and sellers has remained relatively consistent. This keeps prices consistent.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In the housing market, supply is measured by inventory (how many houses are for sale at a given time).&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image3-1.jpg\" alt=\"All Homes for Sale (2012-2023) - Redfin\" class=\"wp-image-155678\" style=\"width:1060px;height:622px\" width=\"1060\" height=\"622\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image3-1.jpg 1528w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image3-1-300x176.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image3-1-1024x602.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image3-1-768x451.jpg 768w\" sizes=\"auto, (max-width: 1060px) 100vw, 1060px\" \/><figcaption class=\"wp-element-caption\"><em>All Homes for Sale (2012-2023) &#8211; Redfin<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">As shown in the chart, inventory is extremely low. It\u2019s moved up a bit from the all-time lows during the pandemic, but we\u2019re still seeing inventory numbers that are 46% below pre-pandemic levels. So even though demand has dropped and cooled the market down from its frenzy, lack of supply has prevented prices from declining further.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">What Happens Next?&nbsp;<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">To understand what happens to home prices through the end of 2023, we just need to consider what potential changes there could be to supply and demand.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">On the demand side, there are many potential impacts. Variables that could lessen demand include (just to name a few):<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Higher interest rates<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Reduced affordability due to the resumption of student loan payments<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Increases in unemployment<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Sustained inflation<\/span><\/li>\n<\/ul>\n\n\n\n<p><span data-preserver-spaces=\"true\">Variables that could increase demand include:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Lower mortgage rates<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Wage increases that outpace inflation&nbsp;<\/span><\/li>\n<\/ul>\n\n\n\n<p><span data-preserver-spaces=\"true\">On the supply side, I find it hard to believe inventory will go much lower, but of course, it\u2019s possible. The number of new listings is down almost 30% year over year and trending downward. If prospective sellers continue to choose not to sell, inventory could continue falling.&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1528\" height=\"898\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image1-1.jpg\" alt=\"New Listings (2012-2023) - Redfin\" class=\"wp-image-155676\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image1-1.jpg 1528w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image1-1-300x176.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image1-1-1024x602.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/07\/image1-1-768x451.jpg 768w\" sizes=\"auto, (max-width: 1528px) 100vw, 1528px\" \/><figcaption class=\"wp-element-caption\"><em>New Listings (2012-2023) &#8211; Redfin<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Supply could rise from foreclosures, new construction, or sellers adjusting to the new reality and deciding to list their properties despite higher rates.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Looking to the Future<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">So what will happen? No one knows for sure, of course, but I\u2019ll give you my opinion in the form of three possible outcomes: my base case (most likely outcome), downside case (how prices could decline further than I think), and my upside case (prices outperform my expectations).&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Base case<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">My base case is that demand remains relatively flat, or could decline slightly, through the end of the year because I don\u2019t expect mortgage rates or affordability to change all that much.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">On the supply side, I think things will remain relatively stable as well. People aren\u2019t selling because of the \u201clock-in effect.\u201d There is an economic incentive not to sell, and I don\u2019t think that will change in the next six months (and maybe not for the next several decades).&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/foreclosure-activity-continues-to-steadily-increase-as-covid-era-policies-end\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Foreclosures are rising<\/span><\/a><span data-preserver-spaces=\"true\">, but not in any meaningful way that will impact inventory, and I am not convinced that the \u201c<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/airbnbust-why-it-may-be-time-to-rethink-short-term-rentals\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Airbnbbust<\/span><\/a><span data-preserver-spaces=\"true\">\u201d will generate any meaningful amount of new listings on a national level.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">So, if I were to redo my year-end prediction for 2023, I would revise it upward. As of now, I think the housing market will end the year flat on a year-over-year basis\u2014or, to give myself some wiggle room, somewhere between 3% and -3%.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Downside case<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">Could something else happen? Of course! My downside case (price declines of more than 3%) would include a big increase in layoffs and unemployment that causes demand to deteriorate or an increase in mortgage rates due to rising bond yields.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Upside case<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">My upside case (price increases over 3%) would include a pause in interest rate hikes by the Federal Reserve and an easing of inflation that causes mortgage rates to drop and demand to increase. This would have to be combined with continued strength in the labor market.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Given the extreme amount of economic uncertainty, I assign the rough probabilities of each case as follows:&nbsp;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><span data-preserver-spaces=\"true\">Base case:&nbsp;<\/span><\/strong><span data-preserver-spaces=\"true\">50%<\/span><\/li>\n\n\n\n<li><strong><span data-preserver-spaces=\"true\">Downside case:<\/span><\/strong><span data-preserver-spaces=\"true\">&nbsp;20%<\/span><\/li>\n\n\n\n<li><strong><span data-preserver-spaces=\"true\">Upside case:&nbsp;<\/span><\/strong><span data-preserver-spaces=\"true\">30%<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">What Does This Mean for Investors?<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">As an investor, I encourage you to think about the housing market in these terms. None of us know what will happen for sure\u2014and it\u2019s important to acknowledge that. But that doesn\u2019t mean you can\u2019t invest! By understanding the variables that impact supply and demand, you can logically think through the various scenarios that could unfold, understand and mitigate potential risks, and plan your investing decisions accordingly.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">What do you see moving the housing market through the end of the year? What\u2019s your base case? Let me know in the comments below!<\/span><\/p>\n\n\n\n    \n  <div id=\"visibility-group-block_a22317626fbb74d63783c5e32ac1fc92\" class=\"visibility-group alignwide  hidden\">\n        \n\n<div id=\"hero-block_dd62171aea061b98d395447d91911986\" class=\"first:mt-0 hero-block py-4  alignwide   has-background has-slate-200-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-1\/2 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Find the Right Agent, Close the Best Deal<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:18px\">Step #1: Use Agent Finder to match with top <em><strong>investor-friendly<\/strong><\/em> real estate agents to help you find, analyze, and close your next deal.<\/p>\n\n\n\n<div id=button-custom-event-block_92bfd420538fd7a5ae1191b382264754 class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/agent\/match\" x-on:click=\"window.analytics.track(&#039;Blog Block | B2C Marketplace Agent Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/2023-housing-market-mid-year-report&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Find an Agent<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/2 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/08\/Marketplace-Blog-Blocks-Agent-v3.png\" alt=\"investor friendly real estate agent\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n  <\/div>\n  \n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n    \n  <div id=\"visibility-group-block_64dd31c79f00f\" class=\"visibility-group  \">\n        \n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div id=\"hero-block_64dd2875dba9d\" class=\"first:mt-0 hero-block py-4    has-background has-slate-100-background-color has-text-color has-theme-slate-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<h3 class=\"wp-block-heading my-0 tracking-tight font-extrabold has-theme-slate-dark-color has-text-color has-large-font-size\">Join the community<\/h3>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-theme-slate-color has-text-color\" style=\"font-size:16px;font-style:normal;font-weight:400\">Ready to succeed in real estate investing? Create a free BiggerPockets account to learn about investment strategies; ask questions and get answers from our community of +2 million members; connect with investor-friendly agents; and so much more. <\/p>\n\n\n\n<div id=button-custom-event-block_64dd2888dba9e class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/signup\" x-on:click=\"window.analytics.track(&#039;Blog Block | Acquisition | Free Membership Signup&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/2023-housing-market-mid-year-report&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Sign Up<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n            <\/div>\n<\/div>\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n  <\/div>\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The housing market has shown resiliency through 2023. What comes next, and will we see a surge in 2024? Here&#8217;s what you need to know.<\/p>\n","protected":false},"author":108611,"featured_media":155682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8,7119],"tags":[],"class_list":["post-155674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends","category-biggerpockets-daily"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/155674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/108611"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=155674"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/155674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/155682"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=155674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=155674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=155674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}