For those who wouldn’t mind moving to Arizona if you could find a brand-new home for less than $300,000, you should check out this new-home tract in Casa Grande.
It’s called part of the Phoenix Metro area, but if you’re going to central Pho-town, you better pack a lunch. P.S. They need to come up with a better name than ‘printed’ homes – it sounds like you are making them out of paper, not concrete poured by a ‘full-stack automated robotic assembly’.
For those who have moved in the last three years, Texas, Florida, and Tennessee have been popular destinations – with North Carolina making a surge last year. Here are things to know about moving there!
WASHINGTON (December 13, 2022) – Lawrence Yun, NAR chief economist and senior vice president of research, forecasts that 4.78 million existing homes will be sold, prices will remain stable, and Atlanta will be the top real estate market to watch in 2023 and beyond. Yun unveiled the association’s forecast today during NAR’s fourth annual year-end Real Estate Forecast Summit.
Yun predicts home sales will decline by 6.8% compared to 2022 (5.13 million) and the median home price will reach $385,800 – an increase of just 0.3% from this year ($384,500).
“Half of the country may experience small price gains, while the other half may see slight price declines,” Yun said. “However, markets in California may be the exception, with San Francisco, for example, likely to register price drops of 10–15%.”
Realtor.com is forecasting that the San Diego-Carlsbad metro area will have prices dropping 27% in 2023, but also conclude that fewer sales (-23.7%) will make our area more affordable. They combine the two and call it +3.6% combined growth.
They base their forecast on the lack of affordability, which ignores how many, if not most, buyers are using a hefty down payment to keep their monthly payments more reasonable.
If there was a severe price dump in 2023 like they are describing, the sellers wouldn’t go for it, and the inventory would dry up. Just about every potential seller has to be thinking that they have already given up a certain percentage of their equity in 2022 (off their inflated sense of value), and waiting it out sounds way better than coughing up another 20%.
But this is the type of garbage that could get into people’s head, and whether it’s realistic or not doesn’t matter as much as the perception. Thanks Realtor.com!
In an effort to help readers find a replacement home, here are new homes near Tucson for sale! This development is out in the sticks but at least it’s on the north side and on the way to Phoenix.
They have several homes available, and they start as low as $307,900:
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