January 2023 Housing Report

13 Jun January 2023 Housing Report

Please take a peek at the January 2023 housing report. You can also find the brief synopsis here along with the graph heavy report here. 

As you may have picked up with reading this latest report, the underlying tone has FINALLY started to shift. Don’t get me wrong, it is very subtle, but acknowledging the fact that buyers are struggling with affordability even with rates easing from September is a step in the right direction. Now, when it comes to what is truly happening in the market, the trend that I am seeing from my own perspective is rather fascinating. In short, the affordability hesitation is not hitting all levels the same. That may sound incredibly obvious, but the segment with the largest pause might not be the one you immediately think of. First timers are the predominant buyers powering through making your traditional, entry level homes, who appear to be the most reasonable regarding pricing, the ones seeing the largest demand. There are a variety of reasons why I believe this is taking place, but that middle ground, move up sector is far more stagnant and price sensitive compared to everyone else.