Realogics Sotheby’s International Realty (RSIR) released its 2023 Forecast Report, a macroeconomic housing report authored by Pacific Northwest brokerages who have analyzed the trends in 2022, evaluated what’s occurred so far in Q1 for 2023 and are focused on where the market is headed next. The top brokerage, led by CEO and President Dean Jones, is releasing its 8th annual comprehensive report on real estate across the region, and the second in this format, which taps industry leaders from real estate and beyond to offer their expertise and projections for what lies ahead in Western Washington real estate.
The report offers insights into ancillary housing markets, investment planning, markets to watch, and trends in sustainability and design. While median home prices in the Pacific Northwest region had been generally decreasing, many of the report’s contributors (Jones, Alan Pope of Pope Azeltine, Inc., Todd Britsch of Level Capital, LLC, Amy Mutal of Prevail Wealth Management among others) have predicted them to stabilize, and with increased inventory, decreased pressure, and a trend for lower mortgage interest rates by the second half of the year.
“Our brokerage has released a report unlike any other in the region to address the primary concerns of anyone with interest in the Puget Sound housing market,” says Jones. “By working with leading experts whose research is known across real estate, finance, lending, design, and beyond, we look at the broader economic picture along with insights that will prepare our agents and their clients for the year ahead.”
The topics spanning the report touch on the considerations of buyers, sellers, and homeowners, including in-city living opportunities and housing supply and demand, a financial outlook examining the stock market and real estate holdings, sustainable building, design trends, and what lies ahead for the city centers of both Downtown Seattle and Downtown Bellevue.
“The year-over-year comparisons found in the report will create sensational headlines,” says RSIR CMO Andrea Savage. “But we’re focused on the fundamentals to help our brokers and their clients seize opportunities. Such dynamics make it even more important to work with an experienced real estate broker, backed by the Sotheby’s International Realty® brand, who can be relied on as a trusted advisor to support making the right decisions.”
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