Axios polled more than 75 experts across Axios Local cities to find out what's in store for 2023 and found that sellers everywhere will have to put in more work to close the deal as buyers aren't willing to overbid on less-than-perfect homes.
"Buyers have and should continue to have a choice of properties to purchase along with some wiggle room, which could include sellers paying buyer closing costs, price decreases and property repairs," Sheryl Bowden, vice president of Phoenix Realtors, said.And unless those rates come down drastically, “we are likely in for a market with low overall activity, low supply and demand that will probably stay a bit muted,” Clay said.
"Buyers will be split into two camps: ones waiting for prices to fall, or those jumping on good opportunities," she said.an economist with the Texas Real Estate Research Center at Texas A&M University.on a year-over-year basis," Perdue said."South Florida real estate is unique from other U.S. markets in that we continue to see high in-migration domestically and internationally," Fernando Arencibia Jr., CEO of Arenci Properties Realty, said.
If mortgage rates do increase later this year, the number of inbound movers and cash buyers should be enough to shield South Florida from falling home prices.While mortgage rates make borrowing more expensive, buying conditions will be easier and price growth will moderate in 2023.Axios on facebook
Maybe a bit overly optimistic
Lol, Realtors still trying to convince people to “buy now”. The housing market has a lot further to fall in 2023. Don’t listen to “realtors” they’re income 100% depends on getting you to buy. Always.
TL;DR Over-priced housing dropping in price.
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