The health of the real estate market is local, which means that it is not something that can be can be cited to the same in all locations on a particular continent in the world, a particular nation, or even a particular state within a country. Take the United States, for example, the real estate market varies not only from state to state, but market is also unique for the various locations of the cities and townships within the various states that make up the United States of America. The factors that impact the market in the various locations may generally be the same if comparisons are made between various locations, but even those factors that are considered to be of value to one demographic may not the be same for another demographic.
Time is a big factor when we discuss the real estate market, and that is always true of all of the various locations in the world. For what was a good, prosperous, growing community 30 years ago (or even 5 years ago) may now be a community that is plagued with factors that have resulted in that same community being viewed as a much less desirable place to live today.
All of this information should be taken into consideration when you are reading the various posts about the real estate market on this website.
So what are the predictions in the real estate market as we enter 2023? Emerging trends are in part just the opinions of the authors. However, trends are determined by recent market activity and what history tells us that recent … Continue reading →