{"id":8431,"date":"2023-02-02T06:30:30","date_gmt":"2023-02-02T11:30:30","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8431"},"modified":"2023-02-02T06:30:30","modified_gmt":"2023-02-02T11:30:30","slug":"experts-forecast-a-turnaround-in-the-housing-market-in-2023","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8431","title":{"rendered":"Experts Forecast a Turnaround in the Housing Market in 2023"},"content":{"rendered":"
\"Experts<\/p>\n

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

Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation<\/a> is slowing from the recent frenzy, mortgage rates are coming down<\/a>, inflation is easing, and overall market activity is starting to pick up<\/a>. All of that\u2019s great news for the housing market this year. Here\u2019s what experts are saying.<\/p>\n<\/p>\n

Cristian deRitis, Deputy Chief Economist, <\/strong>Moody\u2019s Analytics<\/em><\/strong><\/a>:<\/strong><\/h5>\n<\/p>\n

\u201cThe current state of the housing market is that it is certainly in transition<\/strong>.\u201d<\/em><\/p><\/blockquote>\n

Susan Wachter, Professor of Real Estate and Finance, <\/strong>University of Pennsylvania\u2019s Wharton School<\/em><\/strong><\/a>:<\/strong><\/h5>\n<\/p>\n

\u201cHousing is going to ease up. I think 2023 will be a turnaround year<\/strong>.\u201d<\/em><\/p><\/blockquote>\n

Lawrence Yun, Chief Economist, <\/strong>National Association of Realtors<\/em><\/strong><\/a> (NAR):<\/strong><\/h5>\n<\/p>\n

\u201cMortgage rates have fallen in the recent past weeks, so I\u2019m very hopeful that the worst in home sales is probably coming to an end<\/strong>.\u201d<\/em><\/p><\/blockquote>\n

Robert Dietz, Chief Economist and Senior Vice President, <\/strong>National Association of Home Builders<\/em><\/strong><\/a> (NAHB):<\/strong><\/h5>\n<\/p>\n

\u201c. . . it appears a turning point for housing lies ahead<\/strong>. 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.\u201d<\/em><\/p><\/blockquote>\n

Bottom Line<\/h3>\n

\nIf you\u2019re thinking about making a move this year, a turnaround in the housing market could be exactly what you\u2019ve been waiting for. Let\u2019s connect to talk about the latest trends in our area.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\"ExpertsThe housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates<\/a> rose last year.<\/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":[3,84,85,86],"tags":[],"class_list":["post-8431","post","type-post","status-publish","format-standard","hentry","category-blog","category-for-buyers","category-for-sellers","category-housing-market-updates"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8431","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=8431"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8431\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}