2023 Real Estate Market: Expectations & Forecast
Looking Toward the Future
Discover how rising mortgage rates, inflation, and new technologies will shape the 2023 real estate market as we look ahead. In this blog post, we’ll take a closer look at the 2023 Real Estate Market: Expectations & Forecast to help you better understand what to expect in the coming year.
What we experienced the last few years was not normal! After a historic run, with home sales and prices reaching record highs, they are leveling. Mortgage rates may fluctuate due to Fed actions on inflation, however, the trend suggests an improvement. As of today I saw a rate quoted for a client of 6%.
Check out these well-researched statistics on how the real estate market reacted in the last half of 2022 as well as projections for 2023. There are also some websites where you can do your own sleuthing. Inventory is up and buyers are still sitting on the fence. They should be out making offers as there is little competition and sellers are willing to make concessions. Sellers who price their homes right will be well positioned in the market especially with the appreciation of the past few years. And remember – there will always be buyers and always be sellers – no matter the market!
How I Can Help!
And if you own a property and are thinking about leasing it, call me. Its a great time for you! I just leased a home for $2900 in South Austin in 1 day. We had 10 showings, 4 well qualified applicants, received over the asking amount and secured a longer lease term.
I am here to guide you throughout your real estate journey. Feel free to reach out to me any time!
If you are in the market to sell I have several blogs that will help prepare you. Staging is an important part of getting your home ready as is renovation – big or small. And if real estate statistics is your jam you can see all of ABoR past and present statistics to help you make future decisions. To download the fact sheet for future reference please feel free to do so: January-Looking ahead to the 2023 real estate market
Check out my 3 easy ways to save money at home on the flyer. You’ll be amazed at the insights you’ll gain!