[quote=profhoff]Any predictions on what market might look like late spring 2023 for each type of property? (I’m going to assume rates will still be high.)[/quote]
Significant price reductions are just warming up. My prediction: by spring it will be fully ignited. Flippers will flop. Short-term rentals will be licensed and regulated, which may increase inventory. Many things are coming into play. If you’re a gambler it may be a fun time. Interest rates, the job market, elections, rentals, even non-local layoffs like Facebook, Twitter, and Wells Fargo can affect us because many people who work from home choose to live here. We haven’t suffered many layoffs locally but inflation hit us hard and we pay more than pretty much everywhere for pretty much everything. Things look scary right now but as they say: buy the home you like and can afford, nobody can predict the future– not even Nostradamus.
