2023 Preview

Sunday January 1st 2023 

Happy New Year…

Not one to keep New Year’s Resolutions so we won’t go there. 

As we limp our way out of 2022, the real estate community is making predictions for the year ahead. The past year has been a function of what goes up must come down. The ride is not over. It will spill over into 2023. 

Below are the themes that will drive 2023. 

The 2023 real estate climate will be “Balanced & Boring”…With an added chill

Interest rates will hover and stay in the headlines… 6%-7% expected

Older low interest existing mortgages are a disincentive to sell…Locking people in place  

The price run-up, interest & inflation has created affordability issues…Resulting in fewer buyers  

Low inventory will prop up prices but only modestly…Pricing/Values are fragile

Property value, a function of buyer and/or seller motivation…Leaving room to negotiate 

Best advice…

Keep your eye on the far horizon...

Balanced, Boring & Brighter...   

If you have any questions about real estate just let us know. Happy to help and answer your questions. We are easily available as your local trusted advisors.

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Happy New Year from Camden Hills Realty