Will the Housing Market See A Reset
Will the 2023 🏡 housing market see a ♻️ reset and 🔁 recalibration?
🙋🏼♀️I'm Melanie Giray with the Hamre Team and 🎈RE/MAX Affiliates here in Ottawa.
🛒So inflation is the big question on everyone's mind.
📈Now inflationary risk has a massive impact on consumers who are wanting to be a little bit more careful with how they're managing their 🗂 portfolio, including their real estate portfolio.
📊The 2022 market volatility that we saw caused a lot of us to take a bit of a step back as there was.
Now there is uncertainty of where everything was going to land.✈️
🏦Of course, central banks have a massive impact on consumer spending habits which we saw in 2022 as the rates aggressively increased throughout the year.
👉Now the expectation for the new year is that there could be a significant return potential if the banks go down the route of slowing down the hikes in the interest rates which is expected in the second half of this year.
🎯We have record low inventory levels, so there is a supply constraint.
💰So this, along with a pause in the hiking cycle, will put pressure on the 🏠📈 housing market and prices will go up.
🔑Now, these are simply my predictions.
I'd love to hear yours below.👇
😀I'm Melanie Giray from the Hamre Team and we'll talk to you soon.