The ball is going to drop soon… will interest rates follow?
While no one has a crystal ball, here is what the experts say lies ahead for real estate in the coming year…
On the second to last day of 2022, we’re sharing 2 new year market predictions with you:
– Home prices will cool by 5-10%, but the decrease only brings sellers back to early 2022 — around 32% above where home values were in March 2020. As prices level out, buyers can expect a calmer market where they’ll be able to regain a little leverage. Inventory will be low but will increase as spring arrives.
– The wild card will be interest rates. Some predict rates will keep climbing, possibly near 8.5%, while others think it’ll be closer to 7-7.5%. The most optimistic analysts say they may drop to 5%, but that low of a drop could indicate a recession.
There’s no question that real estate is always changing — just one small reason we love what we do.
We’ll be watching it closely as we head into the new year and are happy to answer any questions you have about buying, selling, or investing in 2023. DM us, and let’s have a chat!
Bringing You Home to the Good Life”
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