There are few things more critical to a real estate investor than home prices, mortgage rates, and rent. Thankfully, those are three subjects that Redfin decided to tackle in their new 2023 housing market predictions list. But are these housing market projections the truth, or is the data showing something else entirely? We’ve got Dave to fly solo this episode to break down these hot housing market takes to see which could truly come true in 2023.

Welcome back to On the Market. As we wind down the year, we’re wrapping up as many real estate predictions and forecasts as possible so we can give you, the investors, the best chance of success in 2023! And although many of you have asked for Dave’s crystal ball (it’s just his head, people), he’s brought something even better today to share: cold, hard housing market data! We’ll be pinning it against Redfin’s predictions on mortgage rates, housing prices, home sales, rents, and construction for 2023.

Some of these predictions seem far more likely than others, as the future remains mysteriously shrouded in possibilities of a global recession or depression rocking the housing market over the next year. But let’s get to what you really want to know: which markets will be saved, how low rates will go, and when you can expect to get even better deals on investment properties. All that (and much more) is coming up, so tune in!

In This Episode We Cover

Redfin’s most significant housing market predictions of 2023

How low home sales could go as buyers and sellers stand in a stalemate

Mortgage and interest rate predictions and the three scenarios that could cause rates to drop

Whether or not a foreclosure crisis is on the horizon as home prices start to stall

The most secure real estate markets in 2023 and why the “winners” of 2021 and 2022 won’t be safe

The generation of forever-renters and why a nationwide rent drop isn’t as likely as it seems

Which property type will see the most construction and competition in building

And So Much More!

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Redfin’s 2023 Housing Market Predictions

Hear Our 2023 Housing Market Forecast

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-63

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63: Redfin’s 2023 Forecast: Sales Slump, Rates Drop, and The Forever-Renters 33:34 Share

On The Market

Shownotes Transcript

63: Redfin’s 2023 Forecast: Sales Slump, Rates Drop, and The Forever-Renters