We took a quick look at the new trends as we head out of 2022 into 2023. What a difference a year makes! Here are a few we have observed. We would love to hear from you as well. We believe 2023 promises to be a more normal market filled with much less angst on the part of buyers and agents and perhaps a bit more frustration for sellers who may see listings sit longer than 5 days on the market.
In – Negotiating price Out – Six-figure price escalations
In – Off-white, gold-tinged walls Out – Gray walls
In – Adjustable-rate mortgages Out – 2-3% mortgages
In – Higher loan limits Out – Combination loans
In – Real estate reels & videos Out – Static photos
In – Price reductions Out – Offers written without seeing the property
In – Eco-conscious homes Out – Synthetic, non-renewable materials
In – Multipurpose interiors Out – Unused spaces
In – Longer showing times Out – Limited 15-minute showing appointments
In– Full house inspections. Out – 30 min pre-inspections
In – Offers with financing/appraisal contingencies Out – Clean contracts
In – Listings on the market longer Out – One-day listing sales
In – Oversized pendants Out – Timid light fixtures
In – Black furnishings Out– Warm neutrals
In – Tidy home offices Out – Home offices in every corner
In – A normal real estate market Out – Double-digit home price increases
Trends begin and end but what never changes at the Goodhart Group is our devotion to helping you through the transitions in your life. Whatever 2023 throws at you relating to real estate, we stand ready to help you through it all. We commit to giving you the highest level of service, the best advice based on 30 years in the industry (and many up and down markets), and a helping hand to get it all done. If you have any questions, please don’t hesitate to reach out!
Wishing you a happy, healthy, and prosperous New Year!