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What will 2023 hold for Real Estate?

  • 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!

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