{"id":9470,"date":"2023-01-10T10:32:42","date_gmt":"2023-01-10T18:32:42","guid":{"rendered":"https:\/\/mcveighproperties.com\/?p=9470"},"modified":"2023-01-10T19:15:06","modified_gmt":"2023-01-11T03:15:06","slug":"what-experts-are-saying-about-the-2023-housing-market","status":"publish","type":"post","link":"https:\/\/mcveighproperties.com\/what-experts-are-saying-about-the-2023-housing-market\/","title":{"rendered":"What Experts Are Saying About the 2023 Housing Market"},"content":{"rendered":"
If you\u2019re thinking about buying or selling<\/a> a home soon, you probably want to know what you can expect from the housing market<\/a> this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023<\/a>?<\/p>\n An article from HousingWire<\/em> offers<\/a> this perspective:<\/p>\n \u201cThe red-hot housing market of the past 2 \u00bd years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. But more recently, market conditions have done an about-face. . . . now is the opportunity for everyone to become re-educated about what a \u2018typical\u2019 housing market looks like.\u201d<\/em><\/p><\/blockquote>\n This year, experts agree we may see the return of greater stability and predictability in the housing market if inflation continues to ease and mortgage rates<\/a> stabilize. Here\u2019s what they have to say.<\/p>\n The 2023 forecast from the National Association of Realtors <\/em>(NAR) says<\/a>:<\/p>\n \u201cWhile 2022 may be remembered as a year of housing volatility, 2023 likely will become a year of long-lost normalcy returning to the market, .<\/em> . . <\/em>mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, . . .\u201d<\/em><\/p><\/blockquote>\n Danielle Hale, Chief Economist at realtor.com<\/em>, adds<\/a>:<\/p>\n \u201c. . . buyers will not face the extreme competition<\/strong> that was commonplace over the past few years.\u201d<\/em><\/p><\/blockquote>\n Lawrence Yun, Chief Economist at NAR, explains<\/a> home prices will vary by local area, but will net neutral nationwide as the market continues to adjust:<\/p>\n