Are you Ready to Make a Move With Krista Klause

Thinking about making a move in the real estate market? The fear of a significant price crash may be causing uncertainty. But don't worry, data and real estate expert Krista Klause have some reassuring insights. Home prices aren't plunging this year; in fact, they are projected to end on a strong note.

Contrary to rumors of a 5%, 10%, or even 20% price drop this year, that hasn't materialized. The primary reason is the shortage of available homes for sale, which has created a situation where more buyers are vying for homes than there are properties available, thus preventing price declines.

To validate the positive outlook for home prices this year, let's consult various expert forecasts for 2023.

Most experts concur that home prices will continue to rise this year. The latest 2023 year-end predictions from six different organizations confirm this trend. Five of the six forecasts project positive home price growth, while the National Association of Realtors (NAR) projects only a slight decline, far from the crash predicted in some headlines. When you average all six forecasts together, they suggest around 3.3% positive growth for the year.

To further solidify this positive outlook, consider the Home Price Expectation Survey (HPES) from Pulsenomics. This survey combines insights from over 100 economists, investment strategists, and housing market analysts, all of whom foresee an average of 3.3% price growth for the year.

In summary, if concerns about plummeting home prices are holding you back from your real estate plans, let the experts and the data put your mind at ease. Based on the latest forecasts, home prices are anticipated to exhibit positive growth this year. If you have questions about home prices in your area, don't hesitate to connect with a real estate professional like Krista Klause.