2022 was a crazy year for real estate.

It started off crazy and then interest rates caused a huge shift.

Here are some of my predictions for 2023.

Interest Rates

At the beginning of 2022, a 30-year fixed mortgage was around 3.11%.

Today, interest rates on a 30-year fixed mortgage are around 6.25%.

What a difference a year can make. I don’t know anyone that predicted interest rates to double.

My prediction is interest rates will go down but not by much. I think rates for 2023 will be between 5.5% - 6.5%. We will not touch 3% or 4%. Get used to the new normal.

Home Prices:

Omaha has seen homes appreciate 10% or more in the past several years.

That will come to an end. Some areas of the country will see home

You must go through the closing process whether you are buying or selling a house.

There are numerous papers to sign, inspections to conduct, and approvals to obtain. How long does the closing process take? 

Check out our video to learn more about the closing process!

Everyone involved in the deal has a role to play during the closing process. If anyone drops the ball, the closing can be postponed. As a consequence, it's critical to understand your duties so there aren't any delays.