National housing forcast for 2023 and 2024

The National Association of Realtors put out a housing forecast. The NAR predicts prices will go up slightly in 2023 and home sales will be down as compared with 2022 which of course is down from the record-breaking peak year of 2021.

Home sales and prices will go up by 5% and sales will rebound somewhat and be up by 10% . . as compared with 2023 home sales. It kind of makes sense that if home sales hit a low in 2023 they have to be higher in 2024. Just like after a record-breaking 2021 home sales declined in 2022.

If I were planning on selling my house in 2023 I would proceed as planned. If I could afford to buy a house in 2023 I think I would proceed as planned if I had a steady income and some cash.

NAR housing forecast
National forecast for home sales and prices
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