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Real Estate Market Trends for 2023 – Real Estate Real Fast EP11

Listing Spark

Sales were down 25% in Austin, Texas compared to 2021, and values are likely to continue decreasing in 2023. Price drops are becoming more normal, and we can expect home values to decrease by 10-15% on average across major markets. Builders will continue to target first-time home buyers with incentives. Episode Links.

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HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

Some developers are delivering smaller homes in the form of four- and six-plex townhomes on a parcel of land that once featured a single-family house. Others are specializing in the design and construction of accessory dwelling units (ADUs) as detached backyard homes (also known as “ mother-in-laws ”).

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A CALL FOR MORE ACCESSORY DWELLINGS AMID HOUSING CRUNCH

Will Springer Realtor

The cities of Seattle and Renton offer pre-approved ADU designs to help streamline the government-approval process which can often be onerous. Don’t get me started about Seattle’s design review exercise!) . The number of new homes for sale fell 19% (4009) across the county from June to July and 9.5% CONDO NEWS.

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IS THE REAL ESTATE WINDOW CLOSING SHUT?

Will Springer Realtor

They wonder if they missed their opportunity to buy before interest rates rise along with home values. Construction could start as soon as 2022 on an ambitious three-tower project known as Cloudvue. Eighty-four percent of buyers said energy efficiency of a future home is important to them. New listings are up 6.3%