Will Real Estate Prices Go Down in 2023?

  • Jun 24, 2022
  • Real Estate
Real estate prices

There is a lot of speculation about whether or not real estate prices will go down in 2023. Some experts believe that the market has already hit its peak and that prices will start to decline in the next few years. Others think that the market still has a lot of room to grow, and that prices will continue to increase. So, which is it? Will real estate prices go down in 2023?

The answer, unfortunately, is that no one really knows. Real estate prices are affected by a variety of factors, including the economy, interest rates, population growth, and more. And predicting how all of those factors will interact with each other is next to impossible.

That said, there are a few things we can look at to get an idea of what might happen to home prices in the next few years. First, let's take a look at how home prices have changed in the past.

Texas existing and new home median sales price

As you can see from the chart above, home prices in Houston, Texas have been on the rise for quite some time. In fact, they've nearly doubled in the last ten years! So, it's not surprising that many people are wondering if the market is due for a correction.

Interest rates are another important factor to consider. When interest rates are low, more buyers are able to afford a home. But as rates start to rise, affordability declines and fewer people are able to buy.

Right now, interest rates are still relatively low by historical standards. But they're beginning to creep up slowly but surely. If they continue to do so, it could put downward pressure on home prices in 2023.

Of course, there's no guarantee that interest rates will continue to rise. They could just as easily go back down again. And if that happens, home prices could once again start climbing higher.

The bottom line is that predicting home prices is a tricky business. There are just too many factors at play. So, if you're thinking of buying a home in 2023, the best advice is to just keep an eye on the market and see what happens. There's no need to rush into anything.

What do you think? Will real estate prices go down in 2023? Share your thoughts in the comments below!

If you're looking to buy a home in Houston, Texas, or any other part of the country, contact The Jay Thomas Real Estate Team. We'd be happy to help you find the perfect home for your needs and budget. Give us a call today at 832-889-5607!

The Jay Thomas Real Estate Team specializes in helping buyers find their dream home. So, if you're thinking of buying a home in Houston, Texas, or any other part of the country, we can help. Contact us today at 832-889-5607 to get started! We look forward to hearing from you soon.

Happy house hunting!


Hello! I'm Jay Thomas, A REALTOR in Houston, Texas. Chances are you and I share a similar passion, Real Estate! I also have a passion for building businesses, working out, inspiring others, technology, sports, and people. Connect with me on Facebook and Instagram!

Related Blog

5 Expenses Homeowners Pay That Renters Don't: A Guide for Houston, Texas Homebuyers
  • May 26, 2023
  • Real Estate

Owning a home is a dream for many people, but it's important to be aware of all the costs involved before you make the leap. In addition to the down payment and monthly mortgage payment...

read more
Finding the Perfect Management Partner for Your Office Property
  • May 23, 2023
  • Real Estate

Managing an office property can be a complex and time-consuming task. To alleviate the burden and ensure the smooth operation of your valuable asset, selecting the right management company is cruci...

read more
real estate agent
Top Must-Do's Before Listing Your House on the Market
  • May 11, 2023
  • Real Estate

Thinking of finally putting your house up for sale? Congratulations, you're one step closer to that new beginning! But before you call the real estate agent .....

read more
Real Estate Agent
10 Tips to Select a Real Estate Agent Before Buying a House
  • Apr 27, 2023
  • Real Estate

Buying a house is one of the most significant investments you'll ever make. It's an exciting and nerve-wracking process that requires careful consideration and planning....

read more
Home Buyers
Top 5 Neighborhoods in Katy, Texas: A Guide for Home Buyers
  • Apr 27, 2023
  • Real Estate

Katy, Texas is a bustling suburb of Houston known for its excellent schools, family-friendly atmosphere, and charming downtown area....

read more
Real Estate Contracts
Breaking Down the Jargon: Deciphering Real Estate Contracts
  • Apr 20, 2023
  • Real Estate

Real estate contracts can be overwhelming for anyone, especially first-time buyers or those who are not familiar with the real estate jargon....

read more