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
Join BoxBrownie.com’s free monthly Property Marketing Power-Up webinar — a 45-minute session packed with expert tips on creating stunning property listing photos using Image Enhancement, Virtual Staging, Floor Plan Redraws, and more to help you market properties faster and close deals!
READ MORE
Elevate your real estate photography with Brad's expert tips! Learn how to prepare properties, capture stunning angles, and master the “hero shot.” Discover how SnapSnapSnap turns daylight photos into eye-catching dusk images. Watch now!
READ MORE
It takes a special narrative for MLS content to click on social media. Here's how to weave your Floor Plans, Images and Virtual Tours into an irresistible narrative that gets everyone gawking at your latest MLS listing.
READ MORE
Did you know that a Floor Plan can increase clickthrough by up to 52%? That’s a lot of traffic (and potential sales) you're missing if you don't include one with your listings! Here are 5 ways that Floor Plans are a marketing must.
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
Get your team 2026-ready with our free property marketing training! We tailor each session to your team’s needs — from cost-effective photography that streamlines your marketing to creating listings that stop the scroll. Save time, boost results, and start January strong.
READ MORE