REAL ESTATE NEWS
Will Home Prices Drop in 2023: Housing Market Forecast 2023
Housing Market Predictions 2023: Will Prices Drop?
Will house prices go down in 2023? Depending on who you ask, the forecast for 2023 is mixed. Most experts in the housing industry predict fewer buyer demand, lower prices, and higher borrowing rates. Rate increases, along with a shortage of availability, have pushed many purchasers to the sidelines. Home prices may fall slightly, but not drastically as they did in 2008. Some believe that the housing market will continue to outperform compared to the pre-pandemic.
Hence, there is no clarity regarding housing forecasts for 2023. CoreLogic, Fannie Mae, Freddie Mac, and Zillow all predict that home prices will grow next year albeit slightly. If inflation persists, the Fed could tighten more than anticipated by the financial markets. This would result in higher mortgage rates, which will impact the U.S. housing market. If inflation falls or a recession develops in the near future, the Fed may soften financial conditions.
Here’s when the home prices can drop in 2022. While this may appear to be oversimplified, it is how markets work. Prices drop when demand is met. There is now an excessive demand for houses in several property markets, and there simply aren’t enough homes to sell to prospective purchasers. Home construction has increased in recent years, although they are still far behind. Thus, big drops in housing prices would necessitate considerable drops in buyer demand…
A Guide To Housing Market Predictions For 2022
Like the year before, 2021 was an interesting time for real estate. The pandemic helped to create one of the most competitive housing markets in recent U.S. history. Median home prices catapulted toward gigantic highs and dwarfed the housing market predictions for 2021, which were originally expected to still feel some dead weight due to COVID-19.
Will buying a house in 2022 be smooth sailing for Americans? Despite eye-popping sales in certain markets, will it start to pivot from a seller’s market? First-time home buyers may start to see the tide shift in their favor by the end of 2022.
Keep tabs on the trends that will continue to evolve so you can navigate a changing real estate market. By doing so, you can lock down the best opportunity to purchase a new home this year. READ MORE
What Does the Future Hold for Home Prices?
If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. And while this increase in home values is great news for sellers, you may be wondering what the future holds. Will prices continue to rise with time, or should you expect them to fall?
To answer that question, let’s first understand a few terms you may be hearing right now.
- Appreciation is an increase in the value of an asset.
- Depreciation is a decrease in the value of an asset.
- Deceleration is when something happens at a slower pace.
It’s important to note home prices have increased, or appreciated, for 114 straight months. To find out if that trend may continue, look to the experts. Pulsenomics surveyed over 100 economists, investment strategists, and housing market analysts asking for their five-year projections. In terms of what lies ahead, experts say the market may see some slight deceleration, but not depreciation.
Ralene Nelson, REALTOR®
FOR SALE – 147 Gardiner Way, Rio Vista
3bd/2bth/1531sf
$540,000 – Custom Craftsman Cottage, w/detached carport, 70 ft driveway, workshop & studio on a shy 1/4 acre lot. 3 bedroom, possibly 4, with 2 baths, painted in vibrant colors. Laminate floors & white blinds brings out the artsy homeowner. Kitchen has painted cabinets & bead board walls/backsplash, Corian counters with added cabinetry. Main bath has a stall tile shower & separate tub, quartz counters with white cabinets. 2 bedrooms have built-in cabinets & new laminate floors/fans. The family room can be the 4th bedroom/bath also has a tiled shower. FM also has a wood burning stove w/built-ins. Sunroom can be a great entertaining spot along with the large patio that has room for a built in kitchen/BBQ. The workshop has wall air conditioner, dark room with grey water sink. The She craft/studio room can be utilized for crafting or potting area. Homeowner has built numerous planter boxes for the gardener. YES, room for your RV/toys, carport with garage door. Don’t pass up this home!! READ MORE
FOR SALE – 404 Riverwood Ln. Rio Vista, 2bd/2bth/1391sf
$450,000 – Big Sur model & no rear neighbors!! Located in the Active Adult Community, Trilogy. Relax in this lovely backyard & watch the wild life. 2 bedrooms/2 full baths and den with double doors. Both master bedroom and den have bay windows that provides a more open feeling. Master bath has walk in shower & closet, double sinks, white tile counters, Dark kitchen cabinets, Corian counters w/tile backsplash, black appliances & tile floor. Stove is electric, however, is plumbed for natural gas. The dining area overlooks the backyard. Patio with all weather cover, great for BBQ in the rain. Garage has storage cabinets. Just bring your furniture and enjoy the activities, tennis, bocce, new gym, 2 pools & spas. READ MORE
FOR SALE – 718 Allender Wy. Rio Vista, 3 bd/2 bth/1346sf
$499,000 – Gorgeous home, shows pride of ownership and has been renovated since purchased. 3 bedrooms & 2 baths with all new flooring/baseboards, interior paint, light fixtures, etc. Kitchen has new painted cabinets with quartz counter tops with island. Auxillary electric heaters in 3rd bedroom & livingroom. Whole house water filter with under the sink reverse osmosis. Front yard has been totally relandscaped with new walkway to front door, with drought resistant landscaping, drip system & timer. Driveway extended as well as sidewalk to the backyard. Backyard has sprinkler sytem as well & patio. Just bring your furniture and enjoy!! Rio Vista is a quaint town located on the Sacramento River, close to SF, Sacramento & bay area. READ MORE
FOR SALE – 731 Turnberry Ter Rio Vista
2 bed/2 bath/1410 sq ft
$434,900 – NO BONDS-Spinnaker mod1:30el with private backyard. This 2 bedroom, 2 bath home feels like a very relaxing cottage for a retirement home. The patio provides a quiet place for morning coffee & afternoon beverage. Den has built-in book/curio shelves & bay window. The Master bedroom has a bay window, which creates room for a sitting area. New hot water heater. Enjoy amenities such as golf, tennis, bocce, pools/spas & a new gym, and more. READ MORE
FOR SALE – 125 Sequoia Ct. Rio Vista, 4 bds/2 bths/1,422sf
Asking $485,000. Are you looking to move to a little country town? Well look no further, Rio Vista, located on the Sacramento River, offers the old fashion town with parades and is even known for the Bass Derby. This 4 bedroom & 2 bath home located in a cul-de-sac provides that country feel. This home was renovated in 2019 with cabinetry, granite counters, laminate floors, and HVAC. Bring your water toys!! READ MORE
Events in Northern California this Week-End
156th Scottish Highland Gathering and Games
Saturday, 9/3 – Sunday, 9/4, 8am – 6:06pm
Alameda County Fairgrounds, 4501 Pleasanton Ave. Pleasanton
California’s largest and longest-running Scottish Festival returns to the Alameda County Fairgrounds on Labor Day Weekend. Come celebrate the very best of Scottish culture, competitions, cuisine, and entertainment at the 156th Scottish Highland Gathering and Games in Pleasanton.
Piping & Drumming, Whisky Tasting, Highland Dancing, and Heavy Athletics!
READ MORE
SF Labor Day Weekend – Pier Pressure Yacht Party
Sun, Sep 4, 4 – 8 PM
Pier 3, 101 The Embarcadero, San Francisco, CA
Pier Pressure SF – Labor Day Weekend Yacht Party
White Party Edition | 21+
Celebrate your San Francisco Labor Day weekend with views, music & drinks all night long aboard the San Francisco Spirit Yacht – Pier 3.
About this event
- 2 Top SF DJs • 3 Decks to Mingle • 2 Levels of Music • 1 Amazing Yacht Party with sounds by World Class House Music and Open Format DJs …
Join us on the Pier Pressure™ White Party Cruise: Labor Day Sunday, September 4th 2022: Celebrate Labor Day Weekend in the Bay Area with a party experience on the water aboard the San Francisco Spirit Yacht.
Bring your significant and or favorite friends; and hop aboard San Francisco Spirit Yacht for the ultimate Labor Day celebration with DJs, drinks and dreamy views as you cruise the SF Bay with the beautiful backdrop of Treasure Island, Alcatraz, Golden Gate, Bay Bridge, Nob Hill and, most of all, the magnificent San Francisco Skyline.
Labor Day Picnic
Celebrating 100 Years of Labor in San Leandro
Sat, September 3, 2022, 11:00 AM – 3:00 PM
Seagull Picnic Area at Marina Park, 14001 Monarch Bay Drive, San Leandro
Join the San Leandro Historical Society for a family-friendly Labor Day Picnic at the San Leandro Marina!
The sun is shining, the park is emerald green, and the end of summer is in sight.
Labor Day is one of our most beloved and memorable end-of-summer celebrations. Join the Historical Society on Saturday September 3rd from 11:00-3:00 at the Seagull Picnic Area at the San Leandro Marina Park. We will come together to enjoy food, music, and games. We will be celebrating the past, present, and future of Labor in San Leandro.
Rail Fair Returns to Ardenwood Historic Farm on Labor Day
Sat, Sep 3, 2022 at 10:00 AM
Ardenwood Historic Farm, 34600 Ardenwood Blvd, Fremont
Come out to Rail Fair at Ardenwood Historic Farm on Labor Day weekend, September 3-5, 2022! Trains of all sizes, from a variety of model railroads to a full-size steam locomotive, will be on display at Rail Fair which runs from 10 a.m. to 4 p.m., Saturday through Monday.
Attractions will include train rides, model trains, historic railroad equipment displays, live music, and tours of the Patterson House. Bring your own picnic or purchase food and treats at the Farmyard Café.
Rail Fair is sponsored by The Railroad Museum at Ardenwood operated by SPCRR, and Ardenwood Historic Farm. Admission is $12 for adults (18+), $10 for seniors (62+), $9 for children (4-17), and free for ages 3 and under. Parking is free. READ MORE
32nd Annual Chalk It Up Festival
SEP 3 AT 10 AM – SEP 5 AT 6 PM
John C. Frémont Park, 1515 Q St, Sacramento, CA
The Chalk It Up! Chalk Art & Music Festival is a three-day celebration of local artists and the arts community — one of the last of the free, family-friendly festivals in Midtown Sacramento.
The 32nd Annual Chalk It Up Festival is Saturday through Monday, September 3-5, 2022, over Labor Day Weekend. The park is open from 10 am – 6 pm each day with food vendors, local marketplace vendors, activities for kids, live music, and a 21-and-over “beer garden” serving beer, cider, wine, and specialty cocktails. The highlight of the weekend is the ARTWORK. Local artists work on the sidewalks around the perimeter of the park creating beautiful works of art. Sponsors are the art patrons who make it all possible. READ MORE