{"id":7941,"date":"2023-01-09T11:30:12","date_gmt":"2023-01-09T11:30:12","guid":{"rendered":"https:\/\/thezakariagroup.com\/what-experts-are-saying-about-the-2023-housing-market\/"},"modified":"2023-01-09T11:30:12","modified_gmt":"2023-01-09T11:30:12","slug":"what-experts-are-saying-about-the-2023-housing-market","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/what-experts-are-saying-about-the-2023-housing-market\/","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

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market 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 […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nWhat Experts Are Saying About the 2023 Housing Market - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/what-experts-are-saying-about-the-2023-housing-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Experts Are Saying About the 2023 Housing Market - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"If you\u2019re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. 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