Where is the housing market headed in 2023? ✨
INVENTORY — Low housing inventory has been a challenge since the 2008 housing crash and has never fully recovered. Although inventory levels are still tight, supply has slightly increased since September.
PRICES — There are mixed signals from economists about if and when the housing market will crash, or if it will “correct” itself from double-digit percentage jumps seen in home prices this past year. Homeowner equity is at the highest level it’s been in the past several decades, and the likelihood of a housing market crash is low.
BUYING — Purchasing a home (in any market) is a highly personal decision! It’s crucial to be in a solid financial position before diving in. Our best tip for buying in this market is start with a budget and stick with it! Remember that, while there is slightly higher inventory and less competition, it’s still a seller’s market.
SELLING — Although the market is still tipped in your favor, always present your home in the best possible light! Declutter, organize, clean, and (most importantly) find a great listing agent that will price your home competitively and knows your market well.
We’re looking forward to another great year of helping our clients achieve their real estate goals! Any questions? We’d love to chat! 💙
The Rhódon Team
@murphieclem
@tiffanyklingrealtor
@riley_sipes
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