Entering into 2023, the housing market is seeing some signs of improvement. The market has seen an increase by about 25 percent in mortgage applications and home builders have seen the first increase in purchasing since 2021. So potential buyers are starting to jump on board and become active shoppers. Potential buyers are seeing slightly more favorable conditions such as slightly lower interest rates.
The average listing price has fallen about 11 percent and interest rates have dipped. If you’ve been putting off home buying, now might be your chance to hop on the home shopping train.