What the industry experts have to say about year-end home prices.
No matter where you get your news, you’ve likely heard predictions of home prices falling this year. That’s because negative news sells fast and it spreads quickly. However, the reality is quite different, and I have the data to prove it.
The chart at 0:18 in the video shows the 2023 year-end home price forecasts from seven expert organizations. It includes both the original 2023 forecast and the latest revision that’s available. Here’s my takeaway from the chart: all of their original forecasts said prices were going to fall. However, the current forecast says otherwise because none of the industry experts still think they will fall. They all say that by year-end, prices will net positive or grow. That’s a pretty significant change! What this tells me is that prices were a lot more resilient than they originally expected, and that’s great news.
I can help you stay ahead of the next round of negative headlines so we can stop the fear before it starts. I also know exactly what’s happening with prices right here in our local market. Call or email me anytime, and I’ll share with you my market knowledge.