Beautiful 10 acre lot located in Bonneville County, ID. Build your dream home with plenty of room for horses, livestock or a hobby farm. Great views with fabulous neighbors. Close to town but still rural, nine miles to Idaho Falls and eight miles to Rigby. No CCR's. Irrigation rights from the Burgess canal. Building site is 1,900 feet off of the highway and power is 170 feet from the building site. $255,000

Experts Forecast a Turnaround in the Housing Market in 2023

The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.

Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation is slowing from the recent frenzy, mortgage rates are coming down, inflation is easing, and overall market activity is starting to pick up. All of that’s great news for the housing market this year. Here’s what experts are saying.

Cristian deRitis, Deputy Chief Economist, Moody’s Analytics:

“The current state of the housing market is that it is certainly in transition.”

Susan Wachter, Professor of Real Estate and Finance, University of Pennsylvania’s Wharton School:

“Housing is going to ease up. I think 2023 will be a turnaround year.”

Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

“Mortgage rates have fallen in the recent past weeks, so I’m very hopeful that the worst in home sales is probably coming to an end.”

Robert Dietz, Chief Economist and Senior Vice President, National Association of Home Builders (NAHB):

“. . . it appears a turning point for housing lies ahead. In the coming quarters, single-family home building will rise off of cycle lows as mortgage rates are expected to trend lower and boost housing affordability.”

Bottom Line

If you’re thinking about making a move this year, a turnaround in the housing market could be exactly what you’ve been waiting for. Work with a local real estate professional to learn about the latest trends in your area.

Duplex in Pocatello Idaho

 

New Listing! Best investment property in Pocatello! El Rancho area with AMAZING city views on elevated location! 2 unit, twin-home property. $419,000

Exceptional location for your new home or spec build. This roughly 3/4-acre Golf Estate home site backs up to the 13th fairway. An aspen and conifer covered hillside, complete with the top of Mt Taylor looming above, provides a stunning backdrop from the rear of the home. Access to National Forest is a short walk or bike ride away. Owners can join the Bronze Buffalo Club for access to all the club amenities or choose not to. There is still plenty of amenities to enjoy without being a member such as the restaurant, bar, spa, salon and groomed skate ski, xc ski and fat bike trails in the winter. 5 minutes from downtown Victor and just 35 minute drive to Jackson.