As the first quarter of 2023 comes to a close, it's time to reflect on the state of the housing market. Despite concerns about spiraling home prices, the market has experienced only a modest decline, and stabilized mortgage rates have contributed to increased affordability and buying power. This combination has fueled a steady flow of activity in the housing market, providing opportunities for both buyers and sellers. 
We have witnessed a decrease of 2.6% from the peak prices observed in 2022. This decline, though slight, suggests a stabilization in the market, signaling a more balanced approach between supply and demand. While some may view this as a potential cause for alarm, it is important to note that this correction brings about healthier market conditions, making homeownership more sustainable in the long run. 
Despite economic challenges, the housing market has continued to exhibit a consistent pace of activity. Homes are still being sold, and buyers are actively participating in the market. This sustained flow of activity can be attributed to the combination of moderate price adjustments and favorable mortgage rates. 
If you are interested in buying or selling, it’s important to have a local expert on your side. I’d love to work together to help you effectively navigate today’s market conditions. Please reach out if there is anything I can do to help!
Bobbie Carll
(970) 946-6737