2023 Could Be an Explosive Year for Real Estate Investing. Here's Why.
2022 wasn't a fantastic year for investors across the board. The stock market fell 16% year over year, with several dips into bear market territory. Real estate didn't fare much better. The median home price reached its highest point in history, then came down quickly as home buying shuddered in a high-inflation, high-interest-rate environment.
The high prices, high cost of borrowing, high competition, and tremendous economic volatility mean a lot of real estate investors have stayed on the sidelines over the last few years, waiting for better buying opportunities. The good news is that 2023 could be the year real estate investing explodes once again. Here's why.
Red-hot real estate markets are great for those who already own investment properties because they benefit from rising values and higher demand. But it's not the easiest time to acquire new properties. High competition means you're battling multiple offers that often exceed your desired purchase price. It also means you're likely paying more for the property.
Source Fool.com