Now, I know some of you may be feeling a bit nervous about the 2023 housing market, especially after the wild ride we’ve had in recent years. But I’ve got some good news for you!
The experts are saying that the housing market this year is expected to return to a more stable and predictable state. That’s right, the wild bidding wars and record low inventory of the past few years are giving way to a much more balanced market.
The National Association of Realtors predicts that 2023 will be a year of normalcy, with mortgage rates expected to stabilize and home prices moderating after recent highs. While prices may still vary by local areas, they shouldn’t fluctuate too drastically.
And that’s not all. Mark Fleming, Chief Economist at First American, says that the housing market will continue to be driven by strong demand, thanks to our growing demographics, and a long-run shortage of supply.
So, no more ups and downs like a roller coaster, just a smooth and stable ride in the 2023 housing market.
If you have more questions about buying and selling in this market give me a call! I’m your community market leader Sherri Echols, a helping hand for a happy home!