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Is A Housing Crash Coming in 2023?

In the past year, uncertainty and speculation have surrounded the real estate market. Many housing experts predicted a home price crash in 2023, leaving people unsure about the housing market’s stability.

However, recent data from Fannie Mae tells a different story. Contrary to the forecasts, there has been a slow but steady improvement in confidence in home prices this year. As we entered 2023, the alarming predictions significantly impacted Americans’ perceptions of the housing market. According to the historical survey conducted by Fannie Mae last December, a higher percentage of Americans believed that home prices would decline in the next 12 months compared to any other December on record. This uncertainty led to hesitancy among buyers and sellers, causing a temporary slowdown in real estate activity.

Fannie Mae chart for Portsmouth NH real estate

Fortunately, the fears of a housing market crash have proven unfounded. Despite a small price dip during the second half of last year, the national market quickly rebounded, and home values are again on the rise. It’s important not to be misled by the headlines about home prices. The truth is that the housing market is stronger than many people realize.

Portsmouth NH real estate average sales price
New Hampshire Seacoast Average Single-Family Home Sales Prices

If you are considering buying or selling a home in the Portsmouth, NH, area, staying informed about the local market conditions is crucial. This is where the expertise of Ann Cummings and Jim Lee at RE/MAX Shoreline can be invaluable. With their in-depth knowledge of the Portsmouth real estate market, they can provide accurate information about what is happening in our local area. Don’t let the uncertainty in the broader market deter you from pursuing your real estate goals. By working with Ann and Jim, you can understand the current market conditions in Portsmouth, NH, The New Hampshire Seacoast, and southern Maine. They can help you navigate the complexities of buying or selling a home, providing you with guidance every step of the way.

At RE/MAX Shoreline, Ann Cummings and Jim Lee are committed to delivering exceptional service and achieving the best possible outcomes for their clients. Their extensive experience and expertise in the Portsmouth, NH, real estate market make them the go-to professionals for all your real estate needs.

If you’re curious about the state of home prices in our local market, reach out to Ann and Jim today. They are happy to connect with you and discuss the current trends and opportunities in the Portsmouth, NH, real estate market. Don’t let the headlines mislead you – the housing market is stronger than you think. Contact Ann Cummings and Jim Lee at RE/MAX Shoreline and gain the insights you need to make informed decisions. Click here to get a free copy of our new, New Hampshire Seacoast Relocation Guide

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