Is 2023 a Better Year For Buyers?

Dated: January 16 2023

Views: 71

According to Real Estate experts, 2023's outlook for home buyers is positive.

Realtor.com's chief economist Danielle Hale commented:

"There will be more homes for sale, homes will likely take longer to sell, and buyers will not face the extreme competition that was commonplace over the past few years."

Even if property prices don't fall, few buyers have to deal with the stress of a bidding war. Also, buyers most likely will not have to accept a home "as is" and may be able to negotiate closing cost assistance.

While mortgage interest rates are predicted to decline during 2023, nobody can predict this with any certainty. Fannie Mae is predicting rates to fall also the Mortgage Bankers Association (MBA) forecasts a drop. We are already seeing an ongoing reduction in interest rates. 

With these predictions in mind, industry experts agree that attempting to "time the market" is generally a mistake as home values will most certainly rise over the coming years.

If you are planning to buy your first home, move up or check out an investment property? Contact us to find out more about how we can help.

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Patti and Kevin Harris Real Estate

Straight forward, customized service for every client whether buying or selling, no matter what your criteria and timescales. We have over 24 years experience helping to guide our clients through the ....

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