I’m dying for Spring! I’ve had more than enough of the cold and rain, and find myself drawn to anything with Spring colors or decorated with berries 😆
But I’m also wondering about the Spring forecast for our housing market…Maybe you’ve wondered too?? 👇
As there are always life transitions that will mean many of us may need to make a move, here’s the forecast from Forbes! (Forbes 2.17.23, bit.ly/418Kp4O):
🏡 While buyers may expect some competition for well-priced homes, it should feel much calmer than the large crowds of 2021-22, with some negotiating power returning to buyers.
🏡 While 2023 mortgage rates aren’t expected to return to the lows in previous years (and there are various predictions), they are down from the Fall peak and could be offset for many buyers, by price cuts seen in 22% of listings last month.
🏡 However, on the Selling side, don’t despair! As we continue to cope with a less than ideal supply of homes in the market, well-priced homes will continue to receive solid offers!
🏡 “Buyers and sellers waiting for home prices to either plunge or skyrocket will be disappointed. Instead, prices are forecast to move on a slow, boring trajectory like they have historically, and inch a little higher in the spring after seasonal winter lows.”
🏡 Looks like we could be headed towards a “balanced” market for real estate!
Want to know more about what you can expect, or how a 2-1 Buydown program could benefit you as a Seller or Buyer? Let’s Chat! 😀
