The market has cooled down, with the high demand where Sellers received 20 offers over the asking Price and the lowest interest rates are history. Sales volume has reduced, inventory is increasing, the market is uncertain, and some buyers think that in the near future, we will have low-interest rates again like in past years. There is no doubt that inflation was a primary factor for the Federal Reserve to increase the interest rates, and as a result, the real estate market has seen a reduction in sales volume. However, experts predict that we are returning to the market before Covid. In 2023, if inflation and unemployment remain stable, the buyers will feel more confident and have more negotiation power. Now, If you are planning to sell your property, my recommendation is to hire a real estate professional and list the property according to the conditions and the last closed sales in the area; remember, if you do not consider these main facts, you will lose precious time, competition will increase, and you will likely have a harder time selling your house promptly.
Why Miami Won’t Have A Housing Crisis in 2023?
