{"id":3664,"date":"2023-02-02T11:00:32","date_gmt":"2023-02-02T11:00:32","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/02\/02\/experts-forecast-a-turnaround-in-the-housing-market-in-2023\/"},"modified":"2023-02-02T11:00:32","modified_gmt":"2023-02-02T11:00:32","slug":"experts-forecast-a-turnaround-in-the-housing-market-in-2023","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/02\/02\/experts-forecast-a-turnaround-in-the-housing-market-in-2023\/","title":{"rendered":"Experts Forecast a Turnaround in the Housing Market in 2023"},"content":{"rendered":"

\n

$\"Experts$ \n

The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates<\/a> rose last year.<\/p>\n\n

Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation<\/a> is slowing from the recent frenzy, mortgage rates are coming down<\/a>, inflation is easing, and overall market activity is starting to pick up<\/a>. All of that\u2019s great news for the housing market this year. Here\u2019s what experts are saying.<\/p>\n\n

Cristian deRitis, Deputy Chief Economist, <\/strong>Moody\u2019s Analytics<\/em><\/strong><\/a>:<\/strong><\/h5>\n\n\u201cThe current state of the housing market is that it is certainly in transition<\/strong>.\u201d<\/em><\/p><\/blockquote>\n
Susan Wachter, Professor of Real Estate and Finance, <\/strong>University of Pennsylvania\u2019s Wharton School<\/em><\/strong><\/a>:<\/strong><\/h5>\n\n\u201cHousing is going to ease up. I think 2023 will be a turnaround year<\/strong>.\u201d<\/em><\/p><\/blockquote>\n
Lawrence Yun, Chief Economist, <\/strong>National Association of Realtors<\/em><\/strong><\/a> (NAR):<\/strong><\/h5>\n\n\u201cMortgage rates have fallen in the recent past weeks, so I\u2019m very hopeful that the worst in home sales is probably coming to an end<\/strong>.\u201d<\/em><\/p><\/blockquote>\n
Robert Dietz, Chief Economist and Senior Vice President, <\/strong>National Association of Home Builders<\/em><\/strong><\/a> (NAHB):<\/strong><\/h5>\n\n
\u201c. . . it appears a turning point for housing lies ahead<\/strong>. In the coming quarters, single-family home building will rise off of cycle lows as mortgage rates are expected to trend lower and boost housing affordability.\u201d<\/em><\/p><\/blockquote>\n
Bottom Line<\/h3>\n
\nIf you\u2019re thinking about making a move this year, a turnaround in the housing market could be exactly what you\u2019ve been waiting for. Let\u2019s connect to talk about the latest trends in our area.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.<\/p>\n","protected":false},"author":1,"featured_media":3665,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-3664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2023\/02\/experts-forecast-a-turnaround-in-the-housing-market-in-2023-KCM.jpg?fit=750%2C410&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pdz2Zu-X6","_links":{"self":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/3664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/comments?post=3664"}],"version-history":[{"count":0,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/3664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media\/3665"}],"wp:attachment":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media?parent=3664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/categories?post=3664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/tags?post=3664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}