As we head into 2023 the housing market finds itself at a turning point, hindered by a dramatic spike in mortgage rates that chilled the market. A storm was brewing as sellers came to terms with the fact that volatile mortgage rates were rising and pushing some buyers to the sidelines dampening demand for their homes. Yet supply is still tight and home prices went up faster throughout the year than many American incomes. The cooling housing market also leveled the playing field for all types of brokerages as change became the new normal.
For seasoned realtors navigating a changing market is par for the course. Staying ahead of the curve and adapting to the many twists and turns in this unpredictable market is why buyers and sellers look to local professionals that are familiar with this dynamic.
Experience counts. Only by understanding the challenges and opportunities are they able to serve their client’s best interests.
Three Housing Market Predictions for January 2023 Source: The Ascent
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