Facebook Twitter Instagram
    Trending
    • Single-Family Built-for-Rent Construction Cools
    • Pending Home Sales Unchanged in April
    • New Home Sales 4.1% in April
    • Memorial Day 2023
    • Stop Asking for a Mentor
    • Redfin Says Landlords Facing Rising Vacancies and Lower Rent Growth
    • Airbnb Goes Back to the Future – Introduces “Rooms”
    • Seller Finance Bill Introduced in Congress
    Twitter
    Real Estate Investing Today
    • Home
    • RE Journal
    • ROI Magazine
    • National REIA
      • National REIA
      • Find a REIA near you!
    • Podcasts
    • Housing Data
    • Contact Us
    Real Estate Investing Today
    You are at:Home»Economics»NAR Forecasts 4.78 Million Existing-Home Sales and Stable Prices in 2023

    NAR Forecasts 4.78 Million Existing-Home Sales and Stable Prices in 2023

    0
    By Brad Beckett on December 22, 2022 Economics, Market Trends

    NAR logoThe National Association of Realtors predicts that in 2023, 4.78 million existing homes will be sold, prices will remain stable, and Atlanta will be the top real estate market to watch. The forecast was made by Lawrence Yun, NAR chief economist and senior vice president of research, who unveiled the association’s  forecast during their annual year-end Real Estate Forecast Summit.

    crystal ball transparentAmong the forecasts in Yun’s crystal ball:

    • Home sales will decline by 6.8% compared to 2022 (5.13 million) and the median home price will reach $385,800 – an increase of just 0.3% from this year ($384,500).
    • Rent prices will rise 5% in 2023, following a 7% increase in 2022.
    • Foreclosure rates will remain at historically low levels in 2023, comprising less than 1% of all mortgages.
    • U.S. GDP will grow by 1.3%, roughly half the typical historical pace of 2.5%. After eclipsing 7% in late 2022, he expects the 30-year fixed mortgage rate to settle at 5.7% as the Fed slows the pace of rate hikes to control inflation.
    Lawrence Yun

    “The demand for housing continues to outpace supply…The economic conditions in place in the top 10 U.S. markets, all of which are located in the South, provide the support for home prices to climb by at least 5% in 2023.”  Said Lawrence Yun, the NAR’s chief economist and senior vice president of research.

     

    In addition, the NAR identified the top 10 real estate markets that it expects to outperform other metro areas in 2023:

    1. Atlanta-Sandy Springs-Marietta, Georgia
    2. Raleigh, North Carolina
    3. Dallas-Fort Worth-Arlington, Texas
    4. Fayetteville-Springdale-Rogers, Arkansas-Missouri
    5. Greenville-Anderson-Mauldin, South Carolina
    6. Charleston-North Charleston, South Carolina
    7. Huntsville, Alabama
    8. Jacksonville, Florida
    9. San Antonio-New Braunfels, Texas
    10. Knoxville, Tennessee

    Click here to read the full report at the National Association of Realtors.

     

    Share this:

    • Click to email a link to a friend (Opens in new window)
    • Click to print (Opens in new window)
    • Click to share on Twitter (Opens in new window)
    • Click to share on Facebook (Opens in new window)
    • Click to share on LinkedIn (Opens in new window)
    • Click to share on Pinterest (Opens in new window)
    • Click to share on Reddit (Opens in new window)

    Related

    Brad Beckett
    • Website
    • Facebook
    • Twitter

    Director of Education & Outreach, National Real Estate Investors Association

    Related Posts

    Single-Family Built-for-Rent Construction Cools

    Pending Home Sales Unchanged in April

    New Home Sales 4.1% in April

    Comments are closed.

    Emergency Rental Assistance
    Action Alert HR 5013 – Seller Finance
    https://youtu.be/WP-IAtGnPsQ

    Click here to visit the National REIA Legislative Action Center.

    Stay Informed!

    Simply enter your email address in the space below to receive our latest posts right in your mailbox! It's FREE!

    Join 877 other subscribers
    Podcasts
    podcasts
    Survey of the Quarter:
    • Most Recent Posts
    May 30, 2023

    Single-Family Built-for-Rent Construction Cools

    May 29, 2023

    Pending Home Sales Unchanged in April

    May 29, 2023

    New Home Sales 4.1% in April

    May 26, 2023

    Memorial Day 2023

    Benefits of Joining National REIA
    Click here to find a REIA!
    The Latest issue of the RE Journal
    Follow us on Twitter: @REI2Day
    My Tweets
    Keyword Search
    Real Estate Investing Today
    National Real Estate Investors Association
    2755 Mansion Place
    Crestview Hills, KY 41017
    888-762-7342
    www.NationalREIA.org
    Top 100 Real Estate Investing Blogs & Websites on the Web
    Categories
    About Real Estate Investing Today

    Real Estate Investing Today is the news aggregation site for the National Real Estate Investors Association (NREIA) and features news & industry updates to help investors stay informed. Learn more at www.NationalREIA.org

    Media Inquiries

    Media Inquiries Click here

    Copyright 2023 Real Estate Investing Today

    • Home
    • News
    • Legislative
    • Market Trends
    • Residential
    • Data
    • Rentals
    • Crowdfunding
    • Legal
    • Regulations & Taxes
    • Infographics
    • Technology
    Copyright 2022 Real Estate Investing Today
    • Home
    • News
    • Legislative
    • Market Trends
    • Residential
    • Data
    • Rentals
    • Crowdfunding
    • Legal
    • Regulations & Taxes
    • Infographics
    • Technology

    Type above and press Enter to search. Press Esc to cancel.