Experts Predict a Turnaround in Housing Market in 2023
There are signs that the housing market is finally turning around. The recent frenzy in home price appreciation is now over. Mortgage rates are falling, inflation is decreasing, and overall market activity has begun to pick up. All of this is great news for the housing industry in 2018. Here are the opinions of experts.
Cristian deRitis, Deputy Chief Economist, Moody’s Analytics:
“The current state is that the housing market is in transition.”
Susan Wachter, Professor of Real Estate and Finance at the University of Pennsylvania’s Wharton School
“Housing will ease up. I believe 2023 will be a turning year.”
Lawrence Yun, Chief Economics Officer, National Association of Realtors.
“Mortgage rates are down in recent weeks so I am hopeful that the worst in home sales will end.”
Robert Dietz is the Chief Economist and Senior Vice-President of National Association of Home Builders (NAHB).
“. . . It appears that housing is on the cusp of a major shift. Single-family home building will rebound from cycle lows in the next quarters as mortgage rates trend lower and increase housing affordability.
Bottom LineIf you are thinking about moving this year, a recovery in the housing market may be just what you need. Talk to a local realtor to find out the latest trends in your region.
Members: Sign in now and get your personalized posts! Click Here to learn more about KCM’s newest feature, personalized posts.