2023 Real Estate Market Outlook (and what it means for you)
2 videos • 2 views • by Pat Ogle Annapolis Luxury Real Estate Annapolis Luxury Real Estate Information You Can Use. Last year, one factor drove the real estate market more than any other: rising mortgage rates. In March 2022, the Federal Reserve began a series of interest rate hikes in an effort to pump the brakes on inflation.1 And while some market sectors have been slow to respond, the housing market has reacted accordingly. Both demand and price appreciation have tapered, as the primary challenge for homebuyers has shifted from availability to affordability. And although this higher-mortgage rate environment has been a painful adjustment for many buyers and sellers, it should ultimately lead to a more stable and balanced real estate market. So what can we expect in 2023? Will mortgage rates continue to climb? Could home prices come crashing down? While this is one of the more challenging real estate periods to forecast, here’s what several industry experts predict will happen to the U.S. housing market in the coming year. Live the Good Life! Escape To The Good Life In The Land of Pleasant Living! Real Estate in Annapolis and the Chesapeake Bay. Pat Ogle's real estate clients fall into two categories: 1) they want advice to help them on looking for their dream home that fits their budget, or 2) they want advice to help them in selling their home for top dollar in the right time frame. And we are happy to give them that advise, and the 5-star home buying or selling experience they deserve. Pat Ogle knows the Annapolis and Chesapeake Bay area real estate market like the back of his hand… finding and assessing home values is like breathing. Pat Ogle also uses home marketing strategies to get the best possible result, while negotiating awesome deals. When it comes to taking care of our real estate clients, Pat Ogle not happy until they give him a 5-star rating or review. Now we might not be a fit… over the years we have found not everyone is looking for a 5-star experience. Our clients like to be free of stress when buying or selling a home so they can focus on their move, and they want us to take care of the details. Are you thinking of Buying or Selling a home in the Annapolis or Chesapeake Bay area? Want to invest in real estate in The Land of Pleasant Living? Let’s connect and start talking! Specialties and Designations New Construction, Works With First Time Home Buyers, Country Homes, Resale Residential, Historic Homes, Suburban Living, Condominiums, Water Front, Serving The Military, Single Family Homes and Townhomes, Pat Ogle - Associate Broker, CRS, GRI, ePRO, MCJ Long and Foster Real Estate 711 Bestgate Road Annapolis, MD 21401 Cell: 443-569-2736 (text) Office: 410-224-0660 Email: Pat.Ogle@LNF.com Website: PatOgle.com Licensed Maryland REALTOR Since 1987 Real Estate in #Annapolis and the #ChesapeakeBay | #PatOgle #LongandFoster #RealEstate #AnnapolisMD #Annapolis Real Estate Escape To The Good Life In The Land of Pleasant Living! #patogle #annapolis #Luxury #housing #realestate #realtor #newhome #trends #homes #mortgage #realestateagent #househunting #homesforsale#justlisted #annapolisrealestate #annapolishomes #Hometobebuilt #WhiteHallBuilders #PatOgleRealtor j: 3,16