{"id":4289,"date":"2023-10-11T10:30:00","date_gmt":"2023-10-11T10:30:00","guid":{"rendered":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/10\/11\/the-latest-expert-forecasts-for-home-prices-in-2023\/"},"modified":"2023-10-11T10:30:00","modified_gmt":"2023-10-11T10:30:00","slug":"the-latest-expert-forecasts-for-home-prices-in-2023","status":"publish","type":"post","link":"https:\/\/sandpointrealtyidaho.com\/blog\/2023\/10\/11\/the-latest-expert-forecasts-for-home-prices-in-2023\/","title":{"rendered":"The Latest Expert Forecasts for Home Prices in 2023"},"content":{"rendered":"\n
\"The\n

Are you thinking about making a move<\/a>? If so, all the speculation that home prices<\/a> would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren\u2019t in a downward spiral and will actually finish the year strong.<\/p>\n

Even though you may have heard talk that prices would drop 5, 10, or even 20% this year, that hasn\u2019t happened. The big reason why is the supply of homes<\/a> for sale is too low. There are just more buyers<\/a> looking to buy than homes available<\/a>, and that\u2019s kept prices from falling.<\/p>\n

To prove this year wasn\u2019t a bust for home prices<\/a>, let\u2019s look at the latest 2023 forecast from a number of experts.<\/p>\n

Most Experts Project Home Prices Will Net Positive this Year<\/strong><\/h4>\n

The general consensus from industry experts is that home price appreciation<\/a> will actually be positive for 2023. The graph below shows the latest 2023 year-end forecasts from six different organizations:<\/p>\n

<\/a><\/p>\n\n

As you can see, all but one project nationally prices will net positive this year. That\u2019s significant because it shows the majority are optimistic about home price growth.<\/strong><\/p>\n

If you\u2019re still worried about the one red bar that shows an overall price drop for the year, think about this. The projection<\/a> from the National Association of Realtors <\/em>(NAR) is for only a slight decline. It\u2019s not the big crash all the headlines called for. Plus, if you average all six forecasts together, the expectation is that prices will net somewhere around 3.3% positive growth for the year.<\/p>\n

If these 6 organizations aren\u2019t enough to convince you that prices won\u2019t come tumbling down, here\u2019s something else to consider. One of the six forecasts represented in the graph is the Home Price Expectation Survey<\/em><\/a> (HPES) from Pulsenomics. <\/em>It combines survey results from over 100 economists, investment strategists, and housing market analysts. The HPES found that the average from all 100 of those experts is 3.3% price growth for the year.<\/p>\n

If you look back at the graph above, you\u2019ll notice the blue average for the forecasts in this graph is also 3.3%. While individual forecasts may vary, both the HPES survey and the average of these forecasts provide the same projection. And 3.3% appreciation is a completely different story than prices falling.<\/p>\n

Bottom Line<\/h3>\n

If you\u2019re worried about home prices falling this year, let the experts reassure you. Based on the average of the latest forecasts, home prices will actually show positive growth this year. If you have questions about what\u2019s happening with home prices in your area, connect with a real estate agent.<\/span><\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"

Are you thinking about making a move? If so, all the speculation that home prices would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren\u2019t in a downward spiral and will actually finish the year strong. Even though you may […]<\/p>\n","protected":false},"author":1,"featured_media":4290,"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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_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},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-4289","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":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t