KEY REAL ESTATE TRENDS TO WATCH IN 2023
Introduction
What’s in store for 2023? According to the National Association of Realtors (NAR), a slower year for home sellers but a potential market boom for 10 areas in the southern states. The NAR released its report late last year which outlines their predictions for the housing market in 2023.
See what is forecast for the year ahead.
Existing-Home Sales Slow
Existing-home sales are predicted to decline in 2023. According to NAR projections, in 2023 there will be 4.78 million existing-home sales. A 6.8% drop from 2022’s 5.13 million. Many buyers will be priced out of the market. While there are fewer home buyers in the market, housing demand will continue to outpace supply. The housing supply will remain limited, NAR attributes this to new home construction delays, and higher mortgage rates causing people to avoid selling their homes. With home inventory remaining tight, home prices will continue to rise overall.
Prices Remain Stable
NAR expects the annual median home prices to increase by just 0.3% in 2023 - reaching $385,000. NAR Chief Economist Lawrence Yun predicts small price gains for half the country and slight price declines for the other half – excluding markets in California which will see a more marked price drop.
Top Housing Markets To Watch
The top real estate market to watch is Atlanta. Based on key economic indicators, these are the top 10 real estate markets to watch in 2023.
- Atlanta-Sandy Springs-Marietta, Georgia
- Raleigh, North Carolina
- Dallas-Fort Worth-Arlington, Texas
- Fayetteville-Springdale-Rogers, Arkansas-Missouri
- Greenville-Anderson-Mauldin, South Carolina
- Charleston-North Charleston, South Carolina
- Huntsville, Alabama
- Jacksonville, Florida
- San Antonio-New Braunfels, Texas
- Knoxville, Tennessee
Want to maximize your real estate marketing in 2023? Get digital marketing tips to save time and sell property faster or learn how to use virtual staging to sell a listing stuck on the market.
New to BoxBrownie.com? You can sign up now and receive 4 edits free. No credit card needed.
RELATED ARTICLES
BoxBrownie.com has been named in T3 Sixty’s 2025 Tech 200, which recognizes the top real estate technology companies for innovation and impact. This accolade highlights our commitment to delivering cutting-edge, affordable visual marketing solutions.
READ MORE
Tight budget? No problem. Learn 5 fast, affordable ways to create high-performing listings that stand out online, attract attention, and help you sell faster without overspending.
READ MORE
Boy have times changed! It was not many years ago when floor plans were not only hard to come by, but they were expensive, difficult to produce and fraught with copyright regulations that left them out of most marketing packages. BoxBrownie.com has solved all of these problems. Here we will show you how easy, inexpensive and quick it can be to acquire a 2D or 3D floor plan for any listing. It’s a win-win situation for buyers, sellers, and agents alike!
READ MORE
We recently sat down with the Bernardi Group Listing Manager Stephanie Borge to talk about their signature property listings and unique client service and what it takes to get a listing to meet the company’s first-rate standard.
READ MORE
Confused by HDR? Discover what it is, why it can dramatically improve your property photos, and how we make creating stunning, balanced images effortless.
READ MORE
Ready to stand out and get more leads? Explore five free BoxBrownie.com resources designed to help you capture better photos, streamline your workflow, and create standout listings that drive faster results.
READ MORE