What’s Happening in Early 2023 | January Market Update

What a difference a new year makes. So far into 2023, we’re seeing a massive increase in activity after the holidays. It’s been a bit over expectations for the winter months, however, it does make sense. Rates have been slowly falling down from a high of 7.5% in November to close to 6% now in the middle of January. That’s been motivating people to get moving again on buying a home. On top of that, we’re out of the holiday season so many of the sellers that wanted to enjoy their holidays and not have the holidays with showings, inspections, and all of that are getting on the market giving buyers more options to look at. 

Heading into the spring market, if rates get in the 5-6% range, you’re going to see an even expanded and robust real estate market here at the Jersey Shore. Definitely, something to keep your eye on as we head into the 1st and 2nd quarters of 2023. An exciting time in real estate here in New Jersey!