The 2023 Real Estate Housing Market
INCREASE YOUR HOMEOWNER IQ with this month’s Real Estate Market Update | February 2023
Data from January has arrived! Click below to learn how the Treasure Valley real estate market performed in January and hear our 2023 real estate market predictions.
Looking for information specific to your area and nearby counties in the Treasure Valley?
What you’re hearing is true…There is a correction/shift happening in the housing market.
This is what homebuyers have been hoping for!
BUYERS: Instead of paying well over list price and competing against multiple offers, your interest rate could be a bit higher. As a result, you might be paying more per month than the historically low interest rates that were available a few months back, however your total cost of ownership over the term of your loan is down. If you can’t seem to make the payments work with the 30 year fixed loans, seriously consider a 7-year adjustable rate mortgage. Data shows most people are not even living in their homes longer than 5 years these days
SELLERS: You have an appreciating asset which is the best hedge against inflation. Therefore, instead of appreciating at record levels of 20% or more, it will appreciate at a normal rate of 3-5%. If you are selling your home, it’s CRITICAL that it is being presented and marketed in a way that stands out among the rest. Also, your pricing strategy is more important right now than it has been in a very long time. In conclusion, real estate is the best place to have your money with high inflation. Don’t let the news influence you. Curious how this impacts you regarding your specific situation? Please reach out with any questions you may have, we would love to help!
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