Numerous economic and political factors have recently pushed the real estate market to unaffordable prices and incredibly high interest rates. Inflation rising is a huge contributor, as is the ongoing Covid-19 pandemic. Unemployment rates are constantly shifting and adding to the instability in the real estate market, and the questionability of being able to afford housing is rising.
The Jam Group Realty is taking a look at all of these changes in the economy to help their clients determine the best time to buy. They’re focusing on the important question that all potential homebuyers have been asking; will real estate pricing go down in 2023?
The Jam Group Realty and Sasha Jam
Sasha Jam is a highly experienced realtor heading up the Jam Group Realty team. With years of service in luxury real estate, he’s gained valuable insight into industry trends and how to get the best deals. From investment opportunities to the perfect home, Sasha is incredibly dedicated to each and every one of his clients. He goes above and beyond at every opportunity to find the ideal property and won’t rest until his clients are fully satisfied with their choice.
Sasha is one of the top-producing luxury realtors in the San Antonio area and is known for his professionalism and integrity. With a large service area, Sasha and the Jam Group Realty are sure they can find exactly what each client is looking for.
Will real estate prices go down in 2023?
The most important question for potential homebuyers following massive increases in housing costs is whether or not these increases are the new normal. Is it possible they’ll start to go down moving into 2023?
The US housing market saw an average increase of 45% in housing costs between the end of 2019 and mid-2022, making home purchases unaffordable. The good news is that industry experts like Morgan Stanley believe that’s about to change. They feel in the next few years, housing costs will drop 10% or more as the market begins to even out.
Some major metros have already begun falling drastically, making it possible again for the average American to purchase their dream home. Although it isn’t looking like prices will return to what they were pre-pandemic, as there is still an ongoing shortage, they are trending down after months of constantly rising prices.
With the predicted decrease in cost, 2023 is looking like a much better year to purchase an investment property or dream home. For those in the San Antonio area, Sasha Jam and the Jam Group are the ideal choice, with their years of experience in luxury real estate. With their help, anyone can find the perfect property.