What Are the Experts Predicting for Home Values in the Coming Year? #sherriecholsrealtor

What Are the Experts Predicting for Home Values in the Coming Year? #sherriecholsrealtor

The experts have started forecasting for next year, what does that mean for you?

Will it still be a good time to sell? The answer is YES!! Hi, I am Sherri Echols, Broker Associate with RE/MAX Bryan – College Station.

On average, experts are predicting home prices to appreciate 2.5% in 2023.

Now that is lower than the last couple of years, with the skyrocketing home prices. BUT it’s good news to homeowners who are afraid their home value is going to go way down .

So why are the experts optimistic? Two things are causing home prices to continue to tick upward next year.

  1. An undersupply of homes on the market; AND
  2. Millennials are in their peak home buying years. For now Millennials are one of our largest groups of homebuyers. This means we have more buyers than homes.

Experts also predict a strong 2023 Spring Market with interest rates coming down slightly and buyers who have been sitting on the sidelines jumping back into the market.

Keep in mind these are national predictions so we should talk about local market conditions when you’re ready to list. If you are thinking of selling now, please reach out to us. We’ll get it done together.

I’m your Community Market Leader Sherri Echols, a helping hand for a happy home.

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