🏡 In some ways, smaller homes are already here. When the pandemic hit, the meaning of home changed. People needed the space their...
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The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.
Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation is slowing from the recent frenzy, mortgage rates are coming down, inflation is easing, and overall market activity is starting to pick up. All of that’s great news for the housing market this year. Here’s what experts are saying.
“The current state of the housing market is that it is certainly in transition.”
“Housing is going to ease up. I think 2023 will be a turnaround year.”
“Mortgage rates have fallen in the recent past weeks, so I’m very hopeful that the worst in home sales is probably coming to an end.”
“. . . it appears a turning point for housing lies ahead. In the coming quarters, single-family home building will rise off of cycle lows as mortgage rates are expected to trend lower and boost housing affordability.”
If you’re thinking about making a move this year, a turnaround in the housing market could be exactly what you’ve been waiting for. Let’s connect to talk about the latest trends in our area.
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Mike Martin and The Elite Partners were a great help in finding our first home , he answered all our questions and was honest on what he could and couldn’t do. When we contacted him he got back to us within a few hours which was great , it made the whole process less stressful and fore the most part pretty easy. We love our new home and would happily recommend Mike and the RE/MAX Elite Partners.
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It was a pleasure to work with Victoria to sell our first home. She was very knowledgeable and helped us through the hole processes. She made sure we understood what was happening and what we needed to do as sellers. If we were staying in the area we would have helped her find our new home as well. She and The Elite Partners were able to refer us to another great agent when we purchased our next home. I highly recommend her if you are looking to buy or sell your home.
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