After the housing market slow-down in 2022, which markets will shine in 2023?
With mortgage rates almost doubling since the beginning of the year and home prices continuing to rise due to low inventory, affordability remains a big concern for buyers. We’ll be referencing this article.
Based on a report by Danielle Hale, chief economist for Realtor.com, here are the housing market predictions for 2023.
2023 Top Housing Markets
1. Hartford-West Hartford, Connecticut
November 2022 median home price: $372,000
Forecasted 2023 home sales change: +6.5%
2. El Paso, Texas
November 2022 median home price: $291,000
Forecasted 2023 home sales change: +8.9%
3. Louisville, Kentucky
November 2022 median home price: $290,000
Forecasted 2023 home sales change: +5.2%
4. Worcester, Massachusetts
November 2022 median home price: $447,000
Forecasted 2023 home sales change: +2.5%
5. Buffalo-Cheektowaga, New York
November 2022 median home price: $240,000
Forecasted 2023 home sales change: +6.3%
6. Augusta-Richmond County, Georgia, South Carolina
November 2022 median home price: $319,000
Forecasted 2023 home sales change: +6.2%
7. Grand Rapids-Wyoming, Michigan
November 2022 median home price: $358,000
Forecasted 2023 home sales change: +1.6%
8. Columbia, South Carolina
November 2022 median home price: $300,000
Forecasted 2023 home sales change: +7.7%
9. Chattanooga, Tennessee -Georgia
November 2022 median home price: $397,000
Forecasted 2023 home sales change: +2.9%
10. Toledo, Ohio
November 2022 median home price: $161,000
Forecasted 2023 home sales change: +4.2%
