Closings continue to decrease rapidly compared to 2021, but Inventory and prices have not experienced the same dramatic shift. Prices and inventory have both maintained their stability. Mortgage rates have been in a gradual decline, hitting a 3 month low on 12/15/22, and buyer sentiment about the market improved for the first time in several months. We’re expecting 2023 to maintain the same trend: fewer closings compared to previous years, but prices holding steady with appreciation % in the single digits.
