{"id":4742,"date":"2023-03-20T05:30:00","date_gmt":"2023-03-20T10:30:00","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/whats-ahead-for-home-prices-in-2023\/"},"modified":"2023-05-30T09:51:20","modified_gmt":"2023-05-30T14:51:20","slug":"whats-ahead-for-home-prices-in-2023","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/whats-ahead-for-home-prices-in-2023\/","title":{"rendered":"What\u2019s Ahead for Home Prices in 2023"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.keepingcurrentmatters.com\/content\/images\/20230316\/20230320-whats-ahead-for-home-prices-in-2023-KCM.jpg?w=358&#038;ssl=1\" alt=\"What\u2019s Ahead for Home Prices in 2023 Simplifying The Market\" loading=\"lazy\" style=\"margin-bottom: 5px;clear: both;max-width: 100%\" \/><\/p>\n<p>Over the past year, home prices have been a widely debated topic. Some have said we\u2019ll see a massive drop in prices and that this could be a repeat of 2008 \u2013 which hasn\u2019t happened. Others have forecasted a real estate market that could see slight appreciation or depreciation depending on the area of the country. And as we get closer to the spring real estate market, experts are continuing to forecast what they believe will happen with home prices this year and beyond.<\/p>\n<p>Selma Hepp, Chief Economist at <em>CoreLogic<\/em>, <a href=\"https:\/\/www.corelogic.com\/intelligence\/us-home-price-insights-march-2023\/\" rel=\"noopener noreferrer\" target=\"_blank\">says<\/a>:<\/p>\n<blockquote><p>\u201c<em>While 2023 kicked off on a more optimistic note for the U.S. housing market, recent mortgage rate volatility highlights how much uncertainty remains. Nevertheless, the continued shortage of for-sale homes is likely to keep price declines modest, which are projected to top out at 3% peak to trough.\u201d<\/em><\/p><\/blockquote>\n<p><span style=\"color: black\">Additionally, every quarter, <\/span><em style=\"color: black\">Pulsenomics<\/em><span style=\"color: black\"> <\/span><a href=\"https:\/\/pulsenomics.com\/surveys\/#home-price-expectations\" rel=\"noopener noreferrer\" target=\"_blank\">surveys<\/a><span style=\"color: black\"> a panel of over 100 economists, investment strategists, and housing market analysts regarding their five-year expectations for future home prices in the United States.&nbsp;Here\u2019s what they said most recently:<\/span><\/p>\n<p><a href=\"https:\/\/i0.wp.com\/files.keepingcurrentmatters.com\/content\/images\/20230316\/20230320-estimated-home-price-performance-MEM.png?ssl=1\" rel=\"noopener noreferrer\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/files.keepingcurrentmatters.com\/content\/images\/20230316\/20230320-estimated-home-price-performance-MEM.png?ssl=1\"><\/a><\/p>\n<p>So, given this information and what experts are saying about home prices, the question you might be asking is: <strong><em>should I buy a home this spring?<\/em><\/strong> Here are three reasons you should consider making a move:<\/p>\n<ol>\n<li><strong>Buying a home helps you escape the cycle of rising rents. <\/strong>Over the past several decades, the median price of rent has <a href=\"https:\/\/www.census.gov\/housing\/hvs\/files\/currenthvspress.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">risen consistently<\/a>. The bottom line is, rent is going up.<\/li>\n<li><strong>Homeownership is a hedge against inflation. <\/strong>A key advantage of homeownership is that it\u2019s one of the best hedges against inflation. When you buy a home with a fixed-rate mortgage, you secure your housing payment, so it won\u2019t go up like it would if you rent.<\/li>\n<li><strong>Homeownership is a powerful wealth-building tool. <\/strong>The average net worth of a homeowner is $255,000 compared to $6,300 for a renter.<\/li>\n<\/ol>\n<p>Experts are projecting slight price depreciation in the housing market this year, followed by steady appreciation. Given that, you may be wondering if you should move ahead with buying a home this spring. The decision to purchase a home is best made when you do it knowing all the facts and have an expert on your side.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the past year, home prices have been a widely debated topic. Some have said we\u2019ll see a massive drop in prices and that this could be a repeat of 2008 \u2013 which hasn\u2019t happened. Others have forecasted a real estate market that could see slight appreciation or depreciation depending on the area of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4743,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-4742","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What\u2019s Ahead for Home Prices in 2023&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/whats-ahead-for-home-prices-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What\u2019s Ahead for Home Prices in 2023&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Over the past year, home prices have been a widely debated topic. 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