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2023 Real Estate Sales Trend in the United States by Reginald Peterson July 16, 2023.

The Real Estate Sales Trend in 2023 for the United States is expected to cool down in 2023, after a period of rapid growth in recent years. According to the National Association of Realtors (NAR), home sales are projected to decline by 14.1% in 2023, compared to 2022.

This is due to a number of factors, including rising interest rates, inflation, and a limited supply of homes for sale. Despite the expected slowdown, home prices are still projected to rise in 2023. The NAR predicts that the median home sales price will increase by 5.4% in 2023, to $436,800. This is still below the record high of $482,800 that was set in 2022.

The slowdown in home sales is expected to be most pronounced in the first half of 2023. However, the market is expected to stabilize in the second half of the year, as interest rates begin to level off.

The following are some of the key statistics that are expected to drive the real estate market in 2023:

Rising interest rates: Interest rates are expected to continue to rise in 2023, which will make it more expensive to borrow money to buy a home. This is likely to dampen demand for homes, especially among first-time buyers.

Inflation: Inflation is also expected to remain elevated in 2023, which will put upward pressure on home prices. However, the pace of inflation is expected to slow down, which will help to mitigate the impact on home prices.

Limited supply of homes: The supply of homes for sale is still very limited, which will continue to support home prices in 2023. However, the pace of new construction is expected to pick up in 2023, which could help to ease the supply shortage.

Overall, the real estate market in the United States is expected to cool down in 2023, but home prices are still projected to rise.

Fed officials see smaller rate hikes coming ‘soon,’ minutes show... Click on link for more information https://www.cnbc.com/2022/11/23/fed-minutes-november-2022.html Reginald Peterson National Account Executive LoanWyse A Brand New NON-QM Experience NMLS Number 1724453 "If You Got Issues We Got Tissues! Follow me on TikTok Twitter IG FB

Fed officials see smaller rate hikes coming 'soon,' minutes show The Federal Reserve on Wednesday released minutes from its Nov. 1-2 meeting.