What Should New York Homebuyers Expect in 2023?

Against all odds, some realtors are still trying to make 2023 happen. AdrianeQ reports

too. But, as Black says, this is not the beginning of a bigger shift. What many realtors, economists, and mortgage lenders agree on is that there may be a window at the beginning of next year to buy a house at today’s rates . But barring a catastrophe , the odds of getting a home at a “fire-sale” price are slim to none.

But most sellers are probably not going to make dramatic moves in 2023. Things have already slowed down significantly this year. In Douglas Elliman’s November, Jonathan Miller’s firm counted fewer than half the number of homes for sale that there were in November 2019. The appraiser sees two reasons for this: Sellers don’t want to give up a low mortgage rate for a higher one, or they just sold their home in the boom.

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