Real Estate Market Predictions for 2023

We have officially made it to the first month of 2023. First and foremost, all real estate is “local” in nature and my predictions are based on our area. One important factor to keep an eye on…what will happen in the broader economy. Will inflation slow? Will there be a recession? Or will the Federal Reserve deliver a so-called “soft landing”? All of these factors can have a major effect on the real estate market nationally and locally. Here are my predictions:

  1. Interest rates will decrease some
  2. Cash offers will remain strong 
  3. Foreclosures will be historically low
  4. Inventory will increase at a slow pace
  5. Demand for housing will continue to outpace supply

If you ever have any real estate needs please don’t hesitate to reach out. I’m always happy to help you through the process. Can’t wait to see what the next year brings for real estate!