What will happen to real estate in 2023? Real Estate Market Predictions

1. 1/3 of all real estate agents will go out of business in 2023

Real estate agent Stacey Glenn gives her prediction for 2023 that about 1/3 of all real estate agents are going to go out of business. It’s because so many people who were at home during the pandemic went out and got their real estate license. But then when it comes time for the renewal, many will feel that it’s not worth their time and effort (not to mention the cost for membership with the Realtor Associations!)

2. Interest Rates will continue to go up as long as the economy is strong

Watch this video for an overview of predictions 2 thru 4.

3. Available inventory is going to continue to go up. New homes will come on the market from new construction and people leaving the area.

4. Some areas are up and some are down about 10% from the storm but overall we will see prices hold steady due to limited supply, high demand and a rebuilding economy.

What do you think is going to happen in the market? Contact me and let’s talk!