What will 2023 hold for Real Estate?
- Trish Mercurio
- Dec 23, 2022
- 1 min read
We predict demand for urban living, condos and shared amenities to increase in 2023.
More than 85% of Compass agents surveyed said they predict a balanced national housing market or one tilted in buyers’ favor in 2023.
Compass agents said they predict markets in the Southeast to be the most likely to outperform national sales volume and price growth averages in 2023.
National sales volumes are predicted to decline from 2022. Prices are predicted to stay roughly the same or fall modestly, and inventory is forecast to grow.
We predict typical mortgage rates to end 2023 in the 5%-6% range, down from recent highs exceeding 7%.
The thing is, nobody has a crystal ball. Who would have thought we would have something like COVID happen in 2020?
Stay tuned!
