Real estate continues to offer opportunities for growth and investment. Recent findings from Goldman Sachs and Keller Williams help us gain insight into what lies ahead in terms of its potential in 2023 and beyond.

The US real estate market saw an incredible surge in the early 2000s, with appreciation reaching an average of 3% per year. However, this momentum peaked around 2007 and began to decline shortly thereafter.

After the 2008 crash took us below historical trends for real estate appreciation, it took over a decade to recover. Thanks to the COVID-driven market upheaval in 2020, we've seen values far exceed historical norms heading into 2021.

We've seen even more appreciation in the first half of 2022. However, as interest rates started to adjust since June of this year, home values started to drop anywhere between 6-10% depending on the location.

According to Goldman Sachs, home values are predicted to drop an additional 7.4% in 2023, and an additional 4% in 2024 before leveling off and increasing again starting in 2025. If we go with these predictions, it will be 2026-2027 when we may actually see home prices to be back to today's prices.

Unsure of how this could affect you and your family? Let us help! Our Team of experts can provide insight and support to develop a strategy that best suits you – outlining home improvements, timing, etc. Don’t hesitate to get in touch.

Give us a call at 512-261-1000 or visit www.AustinTexasRealEstate.com.

Follow us on Social Media