2023 Housing Market Update and Predictions - Cleveland Ohio

Get the latest housing market update for Cleveland, Ohio with our 2023 predictions!
I dug into the data released by Redfin. My analysis shows that home sales in Cleveland will drop by 35%-40% in 2023, while prices are expected to remain steady or slightly increase.
Interest rates in Cleveland are also predicted to decrease slightly, making it a good time to consider buying a home.
Buyers will have to be prepared and ready to pounce.
If you are a seller, pricing properly will be key, and you may stay on the market for a few weeks longer.
Stay informed with our Cleveland housing market update and make informed decisions about your real estate investments.
Some more highlights:
- Home sales in 2023 are expected to fall to their lowest level since 2011, with a slow recovery in the second half of the year
- Mortgage rates are expected to gradually decline to around 5.8% by the end of the year, with the average 2023 homebuyer's rate expected to be around 6.1%
- Inflation and employment levels may affect the trajectory of mortgage rates and home sales
- Home sales and mortgage rates are expected to decline nationwide, with Ohio potentially experiencing similar trends
➜➜➜ Email me if you’re looking to buy or sell a home in the greater Cleveland area: [e-mail]
----------------------------------------------------------------------------------------------
Paul Ruksenas is a Cleveland Real Estate Agent, a Residential New Home Construction and Relocations Specialist with Platinum Real Estate. Serving the Greater Cleveland Communities. Allow him to sell your home for more money and less time utilizing modern marketing strategies or allow him to lock arms with you in pursuit of your new home.
CONTACT ME:
Call / Text: 216-849-1469
Email: [e-mail]
paulruksenas.b...
💥Follow me on Social Media💥
Instagram: / paulruksenas
Facebook: / paul.ruksenas
LinkedIN: / paulrukse. .

[@TheBlockBlues]

Great Information I can really use this

[@paulruksenas]

That's great Connie! Happy about that.

[@KayeJo-vq5po]

Very informative, what are a few zip codes in Northeast Ohio?

[@paulruksenas]

44094, 44060, 44139, 44087, 44022, 44116

[@paulruksenas]

Thanks!

[@KayeJo-vq5po]

@@paulruksenas Thank you Paul!