What can we expect in the housing market in 2023? The theme for the second half of 2022’s housing market has been defined by two key things: inflation and rapidly rising interest rates. Now, everyone is looking forward to more stability in the market for 2023, but for that to happen, the Fed will need to bring interest rates down even more and keep them there. 



"The inflation rate is the biggest indicator of which direction the market will go this 2023."

If inflation is high in 2023, so will mortgage rates, but if it continues to fall, mortgage rates will likely respond. As for home prices, we can expect them to increase the more buyers and the fewer homes there are in the market. Lower interest rates will bring more demand on an already low supply, and we predict things to pick right back up. The 2023 housing market will be defined by mortgage rates, and rates will be determined by what happens with inflation.

The recent numbers indicate that we're headed in the right direction, but only time will tell. The best way to keep a pulse on what's happening in this rapidly changing market is to lean on a trusted real estate advisor. 

If you're considering making a move in the New Year or if you just have real estate questions, let's connect so you can be confident with your decision. Give us a call or send an email. We’d be happy to help. Happy holidays!