Housing Market Turnaround Ahead: Experts Weigh In

Introduction: Are you considering buying a home in today’s real estate market? If so, you’re not alone. As 2023 moves forward, there are signs that the housing market is starting to pick up. With home price appreciation slowing down, mortgage rates coming down, and overall market activity on the rise, it’s a great time to be a home buyer. But what do the experts have to say about the current state of the housing market?

Expert Insights: Cristian deRitis, Deputy Chief Economist at Moody’s Analytics, describes the housing market as “in transition.” Susan Wachter, Professor of Real Estate and Finance at the University of Pennsylvania’s Wharton School, believes 2023 will be a turnaround year for housing. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), is hopeful that the worst in home sales is coming to an end with the recent decline in mortgage rates. Robert Dietz, Chief Economist and Senior Vice President at the National Association of Home Builders (NAHB), predicts that the coming quarters will see a rise in single-family home building as mortgage rates trend lower and boost housing affordability.

Conclusion: If you’re thinking about making a move in 2023, the current state of the housing market could be what you’ve been waiting for. Work with ME to learn about the latest trends in your area and make an informed decision. Get in touch today!