The housing market is also expected to remain competitive in 2023, with more buyers looking for homes than there are available. As a result, buyers should expect to face bidding wars and should be prepared to offer more than the asking price to win a house. First-time homebuyers may want to consider purchasing in smaller cities and towns where prices tend to be lower. It may also be worth considering a fixer-upper as this can provide a great opportunity to save money and add value to a property.

  • From home sales to prices, the 2023 housing market will be defined by mortgage rates. And where rates go depends on what happens with inflation.
  • If you’re thinking of buying or selling a home this year, let’s connect so you understand where the housing market is headed in 2023.