In a changing real estate market, it’s hard to know what’s definite and what’s speculation.
This much is for sure: the market is leveling out.
After skyrocketing home prices, lack of inventory, and stiff competition in 2021 and early 2022, the market was due for a change.
Now, we’re seeing that change.
Housing inventory has increased, which means that there are more homes on the market.
At the same time, showings have decreased. The rising interest rates have made some buyers reconsider their buying timeline, which has tamped down buyer demand somewhat.
For buyers interested in owning a home in 2023, this is good news. It means less competition and better chances of scoring a home that you’ll love.
But this can also be a great time to sell for current homeowners. We’re still in a seller’s market, and many areas are still seeing tight housing inventory.
Whether you want to buy or sell this year, send me a DM! I’ll get you the information you need to make the right choice for you.