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Experts Forecast a Turnaround in the Housing Market in 2023

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Real Estate Agent with Preferred Real Estate Brokers BK3248204

Experts Forecast a Turnaround in the Housing Market in 2023

Experts Forecast a Turnaround in the Housing Market in 2023 | MyKCM

The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.

Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation is slowing from the recent frenzy, mortgage rates are coming down, inflation is easing, and overall market activity is starting to pick up. All of that’s great news for the housing market this year. Here’s what experts are saying.

Cristian deRitis, Deputy Chief Economist, Moody’s Analytics:

“The current state of the housing market is that it is certainly in transition.”

Susan Wachter, Professor of Real Estate and Finance, University of Pennsylvania’s Wharton School:

“Housing is going to ease up. I think 2023 will be a turnaround year.”

Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

“Mortgage rates have fallen in the recent past weeks, so I’m very hopeful that the worst in home sales is probably coming to an end.”

Robert Dietz, Chief Economist and Senior Vice President, National Association of Home Builders (NAHB):

“. . . it appears a turning point for housing lies ahead. In the coming quarters, single-family home building will rise off of cycle lows as mortgage rates are expected to trend lower and boost housing affordability.”

Bottom Line

If you’re thinking about making a move this year, a turnaround in the housing market could be exactly what you’ve been waiting for. Let’s connect to talk about the latest trends in our area.

Posted by

Sandy Sills

Associate Broker

The Giff Group

Preferred Real Estate Broker

407 791 4713

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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It took me a while to get on the same page with your post! Keep it up! I will definitely be back to see what you have to say

Feb 02, 2023 10:43 PM
Charles Ross - eXp Realty LLC
eXp Realty LLC Salina Group - Salina, KS
Love To Help People

Excellent information, Thank you for sharing. Have a wonderful day and a blessed week.

Feb 03, 2023 02:17 AM
Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

Thanks for sharing Sandy! Market looks its going to rebound soon!!!

Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

“Mortgage rates have fallen in the recent past weeks, so I’m very hopeful that the worst in home sales is probably coming to an end.”

Feb 03, 2023 03:43 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Sandy. Interest rates are sustainable for a healthy market if they stay under 8%. People will continue to need to sell and buy, so the market should be strong. Enjoy your day.

Feb 03, 2023 04:40 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information. Thanks for sharing and enjoy your weekend!

Feb 03, 2023 05:39 AM