October 2022

• If you’re planning to sell your house this year, you likely have questions about what the shift in the housing market means for your home sale.
• You might be wondering: Should I wait to sell? Are buyers still out there? And can I afford to buy my next home?
• Connect with us at The Aaronson Group so you can get answers to these questions and learn about the opportunities you still have in today’s housing market. Contact 949-388-5194 or email: info@previewochomes.com

As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward? 

While opinions differ, the most likely outcome is we’ll fall somewhere in the middle of slight appreciation and slight depreciation. Here’s a look at the latest expert projections so you have the best information possible today. 

What the Experts Are Saying About Home Prices Next Year 

The graph below shows the most up-to-date forecasts from five

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. 

The graph below helps tell the story of just how different things are today. 

This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market. This slowdown in demand is clear when you look at the red bar on the graph. It uses the latest data from Showing Time to illustrate how showings (an indicator of buyer demand) have softened by just over 12% compared to the same time last year. 

Now for a look at how housing supply has

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some of the ways a trusted real estate professional can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown. 

Fewer Homes for Sale than Pre-Pandemic 

While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market.  A recent article from Calculated Risk helps put this year’s increased inventory into context (see graph below): 

It shows supply this year has surpassed 2021 levels by over 30%. But the further back you look, the more you’ll

Beach Life Opportunity! Resort Like Vacation Living, Single Level, Fully Furnished Main Floor Condo. No steps! This Beautiful Condo is Located Less than One Mile from Dana Point Harbor and Doheny State Beach in The Charming Community of Harbor Creek. Tastefully Landscaped and Surrounded by Lush Pine Trees and Meandering Streams That Run Throughout the Property. As You Enter This Condo, you Will Appreciate The Upgraded and Fresh Features. Spacious, Open Floorplan, Double Entry Door to Master Bedroom, Walk-in Closet and Full Bathroom. New Windows & Sliding Glass Door & Dishwasher. Property Was Re-Piped in 2019. On-Site Amenities Include: Pool, Jacuzzi & Sauna. Close By San Juan Creek Trail Where You Can Walk or Bike Ride to The Shores of Doheny

Prominently Positioned On The 2nd Row In The Highly Desirable Guard Gated Community Of Ritz Cove Offering Panoramic Ocean & Sunset Views. This Dramatic Light & Bright Open Floorplan Features Voluminous Ceilings, Modern Lines, & Expansive Living Spaces Integrating The Outdoor Living Environment With Ocean Views Beyond. Sophisticated In Design With Exquisite Marble Flooring & Designer Touches Complemented By A Sought-After Main Floor Primary Suite Featuring A Spa-Like Bath and 3 Additional Spacious Bedrooms Up A Short Flight Of Stairs. The Highly Upgraded Chef’s Caliber Kitchen Boasts An Oversized Island & Breakfast Bar, Nook Area, & Al Fresco Patio Dining Through Sliding Doors. Additional Highlights Include A Bonus/Game/Potential Theatre Room, New

The housing market is rapidly changing from the peak frenzy it saw over the past two years. That means you probably have questions about what your best move is if you’re thinking of buying or selling this fall. 

To help you make a confident decision, contact us at The Aaronson Group. Here are a few things experts are saying about the fall housing market. 

Expert Quotes for Fall Homebuyers 

A recent article from realtor.com: 

“This fall, a more moderate pace of home selling, more listings to choose from, and softening price growth will provide some breathing room for buyers searching for a home during what is typically the best time to buy a home.” 

Michael Lane, VP and General

Experts are starting to make their 2023 home price forecasts. As they do, most agree homes will continue to gain value, just at a slower pace. Over the past couple of years, home prices have risen at an unsustainable rate, leaving many to wonder how long it will last. If you’re asking yourself: what’s ahead for the price of my home, know that experts are now answering this question, and its welcome news for homeowners who may have been led by the media to believe their home would lose value. 

Historically, home prices have appreciated at a rate near 4%. For 2023, the average of six major forecasters noted below is 2.5%. While one, Zelman & Associates, is calling for depreciation, the other five are calling for appreciation. The

Beach Life Opportunity! Resort Like Vacation Living, Single Level, Fully Furnished Main Floor Condo. No steps! This Beautiful Condo is Located Less than One Mile from Dana Point Harbor and Doheny State Beach in The Charming Community of Harbor Creek. Tastefully Landscaped and Surrounded by Lush Pine Trees and Meandering Streams That Run Throughout the Property. As You Enter This Condo, you Will Appreciate The Upgraded and Fresh Features. Spacious, Open Floorplan, Double Entry Door to Master Bedroom, Walk-in Closet and Full Bathroom. New Windows & Sliding Glass Door & Dishwasher. Property Was Re-Piped in 2019. On-Site Amenities Include: Pool, Jacuzzi & Sauna. Close By San Juan Creek Trail Where You Can Walk or Bike Ride to The Shores of Doheny