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Wednesday, November 02, 2022

First Look at 2023 Housing Forecasts

by Calculated Risk on 11/02/2022 12:49:00 PM

Today, in the Calculated Risk Real Estate Newsletter: First Look at 2023 Housing Forecasts

A brief excerpt:

Towards the end of each year, I collect some housing forecasts for the following year.

For comparison, new home sales in 2022 will probably be around 650 thousand, down from 771 thousand in 2021.

Total housing starts will be around 1.58 million in 2022, down slightly from 1.60 million in 2021.

Existing home sales will be around 5.1 million in 2022, down from 6.1 million in 2021.

As of August, Case-Shiller house prices were up 13.0% year-over-year, but the year-over-year change is slowing rapidly.

Housing Forecase 2023Currently the Fannie Mae forecast is an outlier with a sharper decline in total starts and home sales than the other forecasts.

These forecasts will be updated over the next couple of months, and I’ll also add several more as they become available (and my own forecasts).
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