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
You’ve heard of ‘one step at a time’. Well, if you want to succeed in real estate, you better start thinking along the lines of 10 steps at a time. Because that’s what you’ll have to do to succeed long-term in this cutthroat industry.
READ MORETransform furnished listings into buyer magnets with Virtual Staging. Learn step by step how to create a polished, irresistible property that grabs attention, generates more inquiries, and sells faster.
READ MOREWant to take your real estate photos to the next level? These 10 quick tips from Brad Filipponi will help you capture clean, professional images that stand out and sell faster—whether you’re using a phone or DSLR.
READ MOREYes, cold calling still works. But if you don’t want to do it, you no longer have to. Here are some great ways to hang up the phone on cold calling forever.
READ MOREPatchy lawns can kill curb appeal — but digital edits come with rules. Learn how to enhance your listing ethically, stay MLS-compliant, and wow buyers without misleading them. Click to see our expert tips!
READ MOREIt’s time for the second installment in our Real Estate Marketing Health Check series. In this blog, we take a look at the photography for an apartment in Virginia to see what works well and what could have been done better and hopefully give you some tips and tricks for your own real estate photographer along the way.
READ MORE