Real estate experts’ expectations for next year’s home values.
With all of the headlines in the media, you may be wondering, “What’s really happening with home prices, and where will they go from here?” I can break things down for you, but don’t just take my word for it. Six leading industry experts have released their home price forecast for 2023.
While some are predicting a slight appreciation of homes, others are predicting a slight depreciation. The average of all of them together will give us a full picture. Taking the average on a national level, we can expect a roughly neutral appreciation projected for next year.
There are many things that factor into home prices, like supply, demand, and what will happen next year. For example, interest rates vary by location. Some areas might see price growth and other areas slight declines, with more changes happening in overheated markets like the West Coast or the East Coast.
If you have questions about what’s happening in our area or want to know about your home value, we can get together and talk about it. Reach out to me at (502) 376-5483 or Bob@weselllouisville.com. I look forward to hearing from you.