2023 Home Price Forecast Isn’t Like 2021 or 2022
So with all the headlines in the media, you may be wondering what’s really happening with home prices and where will they go from here.
I can break down the 2023 home price forecast for you, but just don’t take my word for it.
Here’s what the experts have to say. This is a home price forecast for 2023 from six industry experts, and while summer calling for slight appreciation, others are calling for a slight depreciation. The best way to look at it is to average them all together to get the full picture. And when we do that on a national level, the 2023 home price forecast is roughly neutral or flat appreciation projected over the next year.
There are a lot of things that factor into home prices, like supply and demand, and what will happen next will vary by location. Basically, just like we’ve already said this year, some areas are gonna see slight growth, whereas others are gonna see slight declines with more significant changes happening in overheated markets a lot of times like Florida and Nevada.
Benefits of Agents Paying attention to 2023 Home Price Forecasts
There are several benefits for buyers and sellers to understand what is going on nationally and locally in the real estate market with the help of a real estate agent who stays on top of the market and the 2023 home price forecast:
- Pricing knowledge: Real estate agents who stay on top of the market can provide buyers and sellers with insights on pricing trends in their local market. This information can help sellers price their homes competitively and help buyers make informed offers.
- Negotiation power: Understanding the local market and pricing trends can give buyers and sellers more leverage in negotiations. Buyers can use market data to make informed offers, while sellers can use the information to justify their asking price.
- Marketing expertise: Real estate agents who stay on top of the market can provide sellers with effective marketing strategies to sell their homes quickly and for the best possible price. This may include recommendations on staging, photography, and online advertising.
- Knowledge of local regulations: Real estate agents who are knowledgeable about local regulations can help buyers and sellers navigate the buying and selling process more smoothly. They can also provide insight into any legal requirements or restrictions that may impact the transaction.
- Access to a wider network: Real estate agents who stay on top of the market have access to a wider network of potential buyers and sellers, which can increase the chances of a successful transaction.
Overall, working with a real estate agent who is knowledgeable about the national and local real estate market can provide buyers and sellers with valuable insights and expertise that can help them achieve their goals.
If you have questions about what’s happening in our area, let’s connect. Not only do I stay on top of what is going on nationally I produce detailed market reports for the cities I help clients build, sell, and buy resales.
Curious about 2023 Home Prices Forecasts For Buying or Selling Your House? Contact us today at (440) 628-1321!