Want to know what's going to happen in the housing market in 2023? Spoiler alert, it's all about inflation. There are two factors that will shape the 2023 market. The big one is inflation. Here's the thing, mortgage rates rose dramatically in 2022. That was due to the Federal Reserve's actions to try to bring inflation down. While there are some signs inflation may be starting to cool, where the market goes from here really depends on the Fed's ability to get inflation under control. And if inflation continues to fall, like we've seen lately, mortgage rates likely will fall too. Honestly, if there's anything we all want right now in real estate, it's more stability and predictability. If inflation eases, we may see that with mortgage rates, but plan for some volatility in the meantime. Remember, 2023 is going to be all about inflation. I'll keep following the latest information on the market, so if you have questions on what we can expect from the new year, let's connect.
Jeremy Farlow, Managing Broker
Farlow Real Estate Experts
Quincy, IL 62305
Farlow.zoodealio.com (click here for cash offers on your house)
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