Housing experts predict that the market will turn around in 2023
As we move through 2023, there are signs that the housing market is going to start turning around. Home price appreciation is slowing from its 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.
Cristian deRitis, Deputy Chief Economist, Moody’s Analytics:
“The current state of the housing market is that it is certainly in transition.”
Susan Wachter, Professor of Real Estate and Finance, University of Pennsylvania’s Wharton School:
“Housing is going to ease up. I think 2023 will be a turnaround year.”
Lawrence Yun, Chief Economist, National Association of Realtors (NAR):
“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.”
Robert Dietz, Chief Economist and Senior Vice President, National Association of Home Builders (NAHB):
“. . . 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, the housing market could be just what you’ve been waiting for. Let’s connect to talk about the latest trends in Florida.
Dreaming of buying a home in Orlando? Then be sure to get in touch with Florida Connexion. Our company is specialized in the real estate market and offers numerous conditions to help you in this process. We have professionals who speak Portuguese, english and Spanish and know how to finance a home in Florida. Surely, they will support you in realizing this dream quickly, safely and with financing that fits in your pocket.