2023 Housing Market — Blog — Lyn Trayte

Your Arizona Realtor For Life

Posts in 2023 Housing Market

Why Now Is Still A Great Time To Sell Your House

Why Now Is Still A Great Time To Sell Your House

If you were worried buyer demand disappeared when mortgage rates went up, the data shows there are plenty of interested buyers still out there. The housing market isn't as frenzied as it was during the ‘unicorn’ years when buyer demand was through the roof, mortgage rates were historically low, and home values rose like we’ve never seen before. But that doesn’t mean the market is at a standstill.

Nationally, demand is still high compared to the last normal years in the housing market and plenty of buyers are making moves right now.

Is Your House the Top Thing on a Buyer's Wish List this Holiday Season?

Is Your House the Top Thing on a Buyer's Wish List this Holiday Season?

This time every year, homeowners who are planning to move have a decision to make: sell now or wait until after the holidays? Some sellers with homes already on the market may even remove their listing until the new year.

But the truth is, many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for.

Don't Believe Everything you Read About Home Prices.

Don't Believe Everything you Read About Home Prices.

There’s been a lot of misleading information about home prices over the past year. And that’s still having an impact on how people are feeling about the housing market today. But it’s best not to believe everything you hear or read.

Home Prices Are Not Falling

Home Prices Are Not Falling

Even though the media may make things sound doom and gloom, the data shows home prices aren’t falling anymore. So, don’t let the headlines scare you or delay your plans.

What Experts Project for Home Prices Over the Next Five Years

What Experts Project for Home Prices Over the Next Five Years

According to the experts, home prices are expected to grow over the next five years at a more normal pace. If you’re ready to become a homeowner, know that buying today can set you up for long-term success as home values (and your own net worth) grow.

Why It's Still a Sellers Marklet

Why It's Still a Sellers Marklet

Even though activity in the housing market has slowed from the frenzy that was the ‘unicorn’ years, it’s still a seller’s market because the supply of homes for sale is so low. But what does that really mean for you? And why are conditions today so good if you want to sell your house?

How Inflation Affects the Housing Market

How Inflation Affects the Housing Market

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.

Equity is a Game Changer for Today's Home Owners Looking to Sell

Equity is a Game Changer for Today's Home Owners Looking to Sell

If you’re planning to make a move, the equity you’ve gained can make a big impact.

Pricing Your House Right Still Matters Today

Pricing Your House Right Still Matters Today

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low.

Explaining Today's Mortgage Rates

Explaining Today's Mortgage Rates

If you’re either a first-time home buyer or a current homeowner thinking of moving into a home that better fits your current needs, keep on top of what’s happening with mortgage rates and what experts think will happen in the coming months.

Home Prices Are Rebounding

Home Prices Are Rebounding

If you delayed your moving plans because you were concerned about home prices dropping, the latest data reveals the worst is already over, and prices are appreciating nationally.

Americans Still View Homeownership as the American Dream

Americans Still View Homeownership as the American Dream

While it may feel challenging to buy a home today with higher mortgage rates and home prices, if the time is right for you, know that when you buy a home, incredible benefits are waiting for you at the end of your journey.

A Drop in Equity Doesn't Mean Low Equity

A Drop in Equity Doesn't Mean Low Equity

You may see media coverage talking about a drop in homeowner equity. What’s important to understand is that equity is tied closely to home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Here’s how this has played out recently.

Today's Real Estate Market: The "Unicorns" Have Galloped Off

Today's Real Estate Market: The "Unicorns" Have Galloped Off

There will be very unsettling headlines around the housing market this year. Most will come from inappropriate comparisons to the ‘unicorn’ years. Let’s connect so you have an expert on your side to help you keep everything in proper perspective.

Why Buyers Need an Expert Agent by Their Side

Why Buyers Need an Expert Agent by Their Side

The process of buying a home can feel a bit intimidating, even under normal circumstances. But today's market is still anything but normal. There continues to be a very limited number of homes for sale, and that’s creating bidding wars and driving home prices back up as buyers compete over the available homes.

Navigating all of this can be daunting if you’re trying to do it alone. That’s why having a skilled expert to guide you through the homebuying process is essential, especially today. Bankrate shares this perspective:

Why Today's Housing Market Is Not About To Crash

Why Today's Housing Market Is Not About To Crash

There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to understand why that worry has come up.

But the data clearly shows today’s market is very different than it was before the housing crash in 2008. Rest assured, this isn’t a repeat of what happened back then.

The Three Factors Affecting Home Ownership Today

The Three Factors Affecting Home Ownership Today

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages.

Buyer Activity Is Up Despite Higher Interest Rates

Buyer Activity Is Up Despite Higher Interest Rates

If you’re a homeowner thinking about making a move, you may wonder if it’s still a good time to sell your house. Here’s the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed.

Think Twice Before Waiting For Lower Home Prices

Think Twice Before Waiting For Lower Home Prices

As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy.

Why Aren't Home Prices Crashing?

Why Aren't Home Prices Crashing?

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing.