As we look ahead to the 2023 housing market, it’s becoming clear we’ve shifted away from the unprecedented activity that has become synonymous with the pandemic, but many are left wondering if moving this year makes financial sense. We are certainly working through some turbulence in the housing market, although the fundamentals remain strong. In contrast to the crash in 2008 caused by both inflation and loosely regulated lending practices, demand from qualified buyers still outweighs supply. We’re trending down from the 7% interest rate peak on a 30-year conventional mortgage, now back down to about 6%. Many buyers are choosing to wait it out, so if you’ve been considering a purchase, there is a window right now with less competition and greater buying opportunities. In general, we remain cautiously optimistic that the housing market will warm up again, as it does each spring. Any further reduction in rates will certainly turn up the heat. No matter what market we find ourselves in, we’re here to navigate the landscape and guide you toward your goals! Feel free to reach out anytime, we’re here to help!