Here’s what you need to know about the future of 2023’s market.
What’s happening with our real estate market? Will 2023 continue to trend down? Will things stabilize? Maybe the market will go back to being crazy like it was during the pandemic. The truth is that no one knows for sure what will happen to our market in 2023, but by leaning on market data and past trends, we can get a pretty good idea of where things will head. That’s why I’m sharing my best predictions for the future of 2023’s housing market.
You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:27 — 2023 will be a tale of two halves
1:23 — Affordability is the most important factor in our market
1:54 — Affordability is determined by real wages, home prices, and mortgage rates
3:06 — Home prices may even out or even decline slightly
3:36 — What will happen with mortgage rates?
4:43 — What this all means for the future of our market
5:58 — It’s more likely affordability will go up, but no one knows for sure
6:17 — Wrapping things up
If you have questions about this topic or anything else, please call or email me. I am always willing to help!