{"id":8378,"date":"2023-01-09T06:30:12","date_gmt":"2023-01-09T11:30:12","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8378"},"modified":"2023-01-09T06:30:12","modified_gmt":"2023-01-09T11:30:12","slug":"what-experts-are-saying-about-the-2023-housing-market","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8378","title":{"rendered":"What Experts Are Saying About the 2023 Housing Market"},"content":{"rendered":"
\"WhatIf you\u2019re thinking about buying or selling<\/a> a home soon, you probably want to know what you can expect from the housing market<\/a> 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<\/a>?<\/p>\n

An article from HousingWire<\/em> offers<\/a> this perspective:<\/p>\n

\u201cThe red-hot housing market of the past 2 \u00bd 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 \u2018typical\u2019 housing market looks like.\u201d<\/em><\/p><\/blockquote>\n

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<\/a> stabilize. Here\u2019s what they have to say.<\/p>\n

The 2023 forecast from the National Association of Realtors <\/em>(NAR) says<\/a>:<\/p>\n

\u201cWhile 2022 may be remembered as a year of housing volatility, 2023 likely will become a year of long-lost normalcy returning to the market, .<\/em> . . <\/em>mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, . . .\u201d<\/em><\/p><\/blockquote>\n

Danielle Hale, Chief Economist at realtor.com<\/em>, adds<\/a>:<\/p>\n

\u201c. . . buyers will not face the extreme competition<\/strong> that was commonplace over the past few years.\u201d<\/em><\/p><\/blockquote>\n

Lawrence Yun, Chief Economist at NAR, explains<\/a> home prices will vary by local area, but will net neutral nationwide as the market continues to adjust:<\/p>\n

\u201cAfter a big boom over the past two years, there will essentially be no change nationally <\/strong><\/em>. . <\/strong>.<\/em><\/strong> Half of the country may experience small price gains, while the other half may see slight price declines.\u201d<\/em><\/p><\/blockquote>\n

Mark Fleming, Chief Economist at First American, <\/em>says<\/a>:<\/p>\n

\u201cThe housing market, once adjusted to the new normal of higher mortgage rates, will benefit from continued strong demographic-driven demand relative to an overall, long-run shortage of supply<\/strong>.\u201d\u00a0<\/em><\/p><\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019re looking to buy or sell a home this year, the best way to ensure you\u2019re up to date on the latest market insights is to partner with a trusted real estate advisor. Let\u2019s connect.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\"WhatIf you\u2019re thinking about buying or selling<\/a> a home soon, you probably want to know what you can expect from the housing market<\/a> 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<\/a>?<\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-8378","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8378"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8378\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}