Are you curious about what’s going to happen in the market this year? In this video, I’m going to give you my real estate market prediction for 2023. We’ll talk about everything from interest rates to inventory so you can best plan for your next move.
Interest Rates And Inventory
First, I want to wish everybody a happy start to 2023. People are asking me what’s going to happen in the real estate market in 2023—and I have some ideas.
I think 2023 is going to be a little bit more challenging year than the previous year we saw during COVID. With that said, we’re anticipating interest rates to hover around 7%. They may even hit as high as 8% in the second quarter of 2023.
Inventory is going to continue to be a challenge. We’re seeing a lack of homes and a lot of people not listing their homes because of the higher interest rates.
A Balanced Market
The other thing we’re seeing is a more balanced market In 2023, you’re not going to see the 10 to 15 offers that we saw previously in 2020, 2021, and 2022. This more balanced market is great for buyers and a little tougher for sellers.
I hope this gives you an idea of what to expect in 2023. If you have any questions, feel free to reach out to me and I’ll be happy to help. Don’t forget to subscribe to my channel for more real estate updates, and I wish a Happy New Year to you and your family!
