2023 REAL ESTATE FORECAST:

Market To Regain Normalcy

It’s no secret that 2022 was a year of housing volatility. But 2023 will most likely become a year of longlost normalcy with mortgage rates expected to stabilize while home sales and prices moderate after recent highs, according to the National Association of REALTORS’ (NAR) annual Real Estate Forecast. However, the details could differ depending on the region of the country.

If mortgage rates continue receding from a recent high of 7 percent, some housing markets may see an uptick in homebuying at the beginning of the year. But housing inventory is expected to remain tight in 2023, with housing starts below historical averages and fewer homeowners willing to sell, according to NAR. Ongoing challenges with housing supply will prevent home prices from falling, though price appreciation will be slow.

Other NAR Forecasts from the Real Estate Forecast Summit include: market.

• NAR predicts 4.78 million existing home sales in 2023, down 6.8 percent from 513 million in 2022.

• Annual median home prices are expected to increase by just 0.3 percent, following a 9.6 percent gain in 2022.

• Atlanta, Raleigh, Dallas, Fayetteville, AK, and Greenville, SC, join five other metropolitan areas among NAR’s top 20 housing markets in 2023.

Tired of Real Estate Agents Sending Your Borrowers to Other Lenders?

We developed the Go2Source Realtor Referral Network to address this “steering” problem. The network includes hand-picked agents who are committed to keeping borrowers with you, not sending them elsewhere. Your borrowers should remain yours, and Go2Source helps make that happen.

Benefits for Both Retail and Correspondent Partners

Go2Source agents help your borrowers search, buy, sell and save on their transactions.

Go2Source agents never steer the borrower to any other financial institution.

Go2Source agents are local to your area and carefully vetted for professionalism and service attributes.

What To Do Next

Want more information? Contact your Servion Account Executive. Ready to connect a lead with a Go2Source Realtor®?

Visit: myservion.com/Go2Source

For just $30/year, we can help you get the word out about Go2Source with customizable print and digital materials.

The Go2Source Realtor® Referral Network is managed by The Servion Group, which locates, vets and recommends real estate agents in cities across the country who then become part of the Go2Source-branded network.