Realtor.com Housing Forecast for 2023 Boca Raton Delray Beach Miami Fort Lauderdale West Palm Beach Florida - Michael Friedman, eXp Realty

 


December 13, 2022

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Realtor.com 2023 FL Housing Forecast For Boca Raton Delray Beach

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Realtor.com recently published their forecast and predictions for the US housing market in 2023.

In general, Realtor.com predicts moderating home price growth in 2023 and seems to indicate a neutral market by the end of the year 2023; meaning not favoring home sellers or home buyers. 

The Realtor.com expectation for 2023 is a continuation of more homes to be on the market and household budgets being squeezed by higher mortgage rates.

Realtor.com forecasts the average mortgage rate to be 7.4%% during 2023 with the rate drifting down to 7.1% by year-end 2023. 

Existing home median price appreciation is predicted to be 5.4% on a year-over-year basis in 2023, according to the Realtor.com projection. 

Realtor.com predicts the Miami-Fort Lauderdale- West Palm Beach Florida market will show home prices appreciate by an average of 3.4% in 2023 over 2022 and a 2.0% decrease in year-over-year unit volume during the year 2023. 

I constantly monitor our local real estate market, mortgage rates and the United States housing market as a whole so my customers can get the maximum benefit. 

Your home is typically one of your biggest financial assets and is important to get the most you can. 

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Michael Friedman

Broker-Associate, Realtor

eXp Realty

www.mikeinboca.com

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