Why things aren’t so bad…

As I look back on 2022, it's clear we experienced a lot of change. Aside from ditching our masks earlier in the year, the real estate market went from 150 mph to 80mph, and interest rates more than doubled. Things are calmer now, and I don't feel like that's a bad thing. Buyers aren’t rushed to make decisions the minute they step into homes, and they have more time to explore their options. Sellers aren’t getting peak prices, but they’re selling their homes at solid price points. Negotiations are back, and buyers and sellers are working together to get to the closing table.

What I'm seeing as we enter 2023

Inventory will continue to be a big challenge for buyers. Yes, supply is going up but not by much.

Buyers are able to negotiate a discount on price; however, low inventory continues to keep pressure on prices. There are still some homes that get multiple offers, but this is no longer the norm.

Sellers are putting more effort into getting their homes ready for sale, like making improvements and staging, and it's paying off.