STILL POSITIVE, STILL ENJOYING TODAY

I know it hasn’t been easy. But how often is it in our industry? Real estate rebounded fantastically after the COVID-19 pandemic lockdowns and we enjoyed some amazing months – some of our real estate professionals had the best few months of their career in fact. 

But we know that challenges and tough times come and go. The people with the right mindset, a great supporting cast surrounding them and the will to be successful, no matter what, are the ONEs who will make it and in some cases, make it big.

Around the holidays, and especially this year, people ask me what’s next. What do I expect for housing in 2023? Economists and other real estate experts have mapped out next year in detail with a little wiggle room for things unanticipated.

So instead, let’s focus on how behaviors will change in 2023.

THE EFFECTS OF RISING RATES

The average interest rate on a credit card is now at a high of over 16% and could continue to increase. Like the mortgage rate increase, this was done intentionally to serve our overall economy – you have to accept the good with the challenging. During inflationary teams, HELOCs (Home Equity Line of Credit) become increasingly popular as lenders discount HELOCs, in a way, (or at least on introductory rates) to entice borrowers who are hesitant by other rising rates. But again, I encourage consumers to do their homework and be as informed as possible, especially in times like these. 

At the same time, most homeowners will stay put next year, enjoying low interest rates they locked in a while ago. As a result, inventories will rise – in some markets more...read the rest at kubajewgieniew.com