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Is 2023 Real Estate Changing to a Buyers Market?

Mortgage Buyers - Mortgage Refinance

Is Real Estate Shifting Toward a Buyers Market?

Wild price escalations. Plummeting interest rates. Having changed the home buyers climate. While many states still reside in a the sellers market, many analysts predict this will continue heading into late2023. Here are things to consider;

  • Many purchasers how bought in at low mortage rates have gained equity. Which means less incentive to sell, and lower pressures due to forclosure...

  • Housing values have been based on an inventory which is partially set by record costs to build.

  • Pricing is geographically dependent, from state to state. Where other local factors come into play.

  • Following so many drastic changes in the market, there is concern over the crash of 2008. However steps taken by the government combined with borrower equity have dropped foreclosures.

  • While home mortgage rates approach 7 percent -- it always pays to shop!

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