Why Buying Real Estate In 2023 Is A Good Investment
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Loading... - Florencia Sandoval
- 01 May 2023
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If the housing market trends continue in 2023 we will continue to see inflation, steep interest rates, slow sales, and a potential recession. This obviously leaves many questions in the mind of real estate investors who want to know how this will affect them and if buying real estate in such a market is even worth it. This article will discuss why buying real estate in 2023 is a good investment despite so much market volatility. We will also cover what trends real estate investors should pay attention to in the coming year.
Real Estate Housing Market 2023
According to NAR figures home prices have risen by 42% from 2019-2021. This rate was impossible to continue and what we saw last year was that price growth slowed rapidly through the summer and by fall prices lost momentum. In June 2022 the average home sold for $413,800 and by November 2022 the average home sold for $370,700.
When it comes to the rental market we may start to see a slight deceleration from the price increases we have grown accustomed to. From October 2021 to August 2022 we saw the average price of rent increase every month from $1,839 to $2,053. Nearly three quarters (74%) of the cities on Zumper’s top 100 list posted rentals that are either down or flat compared to last month. Read More..
