The housing market is defined by a few things: mortgage rates, home prices, and home sales. As prices start to shoot up, fewer homebuyers are willing to buy. Couple that with a lack of inventory and decade-high mortgage rates, and you’ve put your average homebuyer into the freezer, waiting for lower interest rates to thaw them out. But has the worst already hit the housing market in 2022? Or are we on track for a housing crash in 2023?
To know where we’re going, we need to know where we’ve been. That’s why Dave Meyer (@thedatadeli), host of “On the Market,” has taken a careful look at the 2022 housing market data to see what it says about 2023. Dave describes the 2022 housing market as “a tale of two halves,” where January through June was housing market hysteria, while July through December was a housing market horror show. He believes the same bipolar market will exist in 2023 but could have a completely different ending.
If you want to know where we’re heading in 2023, stick around. Dave will go through home sales, housing prices, affordability, mortgage rates, and more piece by piece, so you don’t miss the best chance to buy!
00:00 2022 Housing Market Recap
01:42 Bipolar Buying Patterns
4:47 Home Prices
06:46 Housing Supply
07:43 Home Sales
08:42 What Could Happen in 2023?
10:46 Will Housing Affordability Get Better?
15:15 The Housing Market "X Factor"
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Watch Dave on the “On The Market” YouTube Channel:
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Order Dave’s New Book, “Real Estate by the
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2023 Housing Market Outlook—And A Review Of Last Year:
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2023 Housing Market Predictions—How Low Will Home Prices
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Redfin’s 2023 Forecast—Sales Slump, Rates Drop, and The
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Redfin Data Used in This
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Connect with Dave on BiggerPockets:
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@thedatadeli or
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