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!