Recapping 2022 and Predicting 2023

Recapping 2022 and Predicting 2023

My team and I wish you a wonderful holiday season and an amazing 2023.

Today I’m here to wish you a very happy holiday season and give a little insight into what may come in 2023! My team and I are so grateful for all of you, and wouldn’t be where we are today without you. We hope your 2022 ends strongly and that you have a great 2023! As we go into this next year, I’ll tell you what I believe we’ll see in 2023 and why I think that. 

First, we are continuing to see relatively low inventory, increased interest rates, and decreased demand. That means that sellers are being more flexible with their pricing and with what kind of concessions they’re offering to buyers. As a result, buyers have the opportunity to buy down interest rates or use a temporary buydown to get into the 3% and 4% range for interest rates. 

“I believe we may see interest rates ease if they stay on the current trend.”

I believe we may see interest rates ease if they stay on the current trend, but we won’t see them get as low as they were at the beginning of the year. Also, there are many people who think we’re headed toward a market crash, but the data doesn’t support that, especially because of the low inventory. 

In addition, there have been fewer foreclosures lately. In all of L.A. County, there are only 75 short sales or foreclosures for sale currently. This decrease is largely because people have a ton of equity in their homes since prices have risen so dramatically in the past few years. 

If you have any questions about what next year may bring, I’m always happy to address your concerns. Feel free to reach out to us at (562) 316-2915 or [email protected]. I hope you have a fantastic holiday season! 

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