You may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage.That’s when a lender looks at your
What Experts are Saying for a Real Estate in 2023
Dated: January 9 2023
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If you're thinking about buying or selling a home soon, you probably want to know what you can expect from the housing this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?
An article from HousingWire offers this perspective:
The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. But more recently, market conditions have done an about-face. . . . now is the opportunity for everyone to become re-educated about what a ‘typical' housing market looks like.
This year, experts agree we may see the return of greater stability and predictability in the housing market if inflation continues to ease and mortgage rates stabilize. Here's what they have to say.
The 2023 forecast from the National Association of Realtors (NAR) says:
While 2022 may be remembered as a year of housing volatility, 2023 likely will become a year of long-lost normalcy returning to the market, . . . mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, . . .
Bottom Line
If you're looking to buy or sell a home this year, the best way to ensure you're up to date on the latest market insights is to partner with a trusted real estate advisor. Let's connect.
Mary Griesbach
I love living in western Wisconsin! We have good schools, strong businesses and endless outdoor recreational opportunities. My goal is to get to know you and your goals, and to provide you with enough....
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