2023 Real Estate Predictions ????

2023 Real Estate Predictions ????

No crystal balls here...BUT we study the trends and listen to experts in the real estate industry so that we can provide the best advice possible.

What's going to happen in 2023?

No one knows for sure, of course, but let me break it down for you. 

1. Prices will continue to increase. Not as quickly as we’ve seen but still increasing 

2. Inventory will remain low. When new housing starts stopped after the 2008 housing bust it caused a huge inventory issue nationwide 

3. Interest rates will not dramatically increase. In fact, even though they’re still on the lower end of the historical average we don’t think they will make a major drop back to a 3 or 4 percent level in 2023

4. Buyers who take advantage of this more balanced market will do better pricing-wise and have more negotiating power than the 2 years prior 

5. Sellers who get their homes on the market will still be successful. They will have the large equity previously built and have the advantage of less competition thanks to low inventory 

What does this mean for you as a homeowner? Should you sell? Should you buy? Should you cry into a pint of Ben and Jerry's and just watch Home Alone instead?

Here's the truth: you have to do what's best for you. If it makes the most sense for you to stay put for a few years, do it. If life circumstances have changed and you have to move, move.

If you don't have to move but kind of want to and even with the higher interest rates you could afford your monthly payment, MOVE! 

The truth is, the market is always shifting, so the most ideal time to move is whenever it's most ideal for you.

Moving is never an easy decision, especially when the market feels confusing. If you are feeling that confusion and would like to talk it over with someone who truly has your best interest in mind, reach out! Anyone on our team would be happy to talk about your options!