Redfin published their 2023 housing market forecast and real estate market predictions. They expect a huge decline in existing home sales as well as a decrease in home prices next year. If their housing market predictions come true, home sales would fall to the lowest levels in more than a decade and home prices would fall on a yearly basis for the first time since 2012. However, Redfin is predicting that new listings will continue to decline in the first half of 2023 which makes sense given that roughly 70% of homeowners with mortgages have a rate at or below 4% and current average rates are around 6.5% as of the end of December 2022. In today’s video, I share all the details of Redfin’s housing market forecast for 2023. Enjoy!

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Compilation of Housing Market Forecast videos:
https://youtube.com/playlist?list=PLiQQpOejscIcBF1Jw2zG6Uvg7qDav_oGi

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6.5% for the current mortgage rates for people with exceptional credit (at the time of filming this video).

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Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?

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Jason Walter, CPA (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

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#housingmarket #Redfin #housingmarketforecast