We’re already more than a quarter of the way through 2023, and it’s time once again to
look at what the next three months might hold. Professional real estate analysts across the
country are keeping an eye on the market to provide their best forecast for the second quarter of
2023. Charlotte may be the hottest market in the United States this year, but it’s all relative. Even
the Queen City is susceptible to the twists and turns of a turbulent economy. With that in mind,
let’s take a closer look at what buyers and sellers can expect from the real estate market as we
head into the summer months.
First, it’s important to note that the second quarter of the year is typically the busiest and
most active when it comes to real estate sales, peaking around June. The weather is warming up
and people are buying and selling in preparation for the upcoming summer months. However,
this year may be a little different, analysts report. Growing uncertainty in the United States
economy will have an effect on consumer spending and the affordability of housing at large. In
times of uncertainty, consumers will tend towards inaction, preferring to wait until the market is
more stable and more favorable.
As for mortgage rates, experts predict that they will stay relatively level, with no drastic
shifts up or down. If you were waiting for mortgage rates to drop before investing in a new
property, you may have to wait a little longer. There are a number of variables to consider, of
course, including location, inflation, and the actions of the federal government in response to
economic matters. You must take experts’ forecasts and predictions with a grain of salt. Keep a
close eye on the market, and don’t let yourself be caught off guard should the United States
economy take an unexpected turn. Senior economist Nadia Evangelou is even quoted as saying
mortgage rates may “drop faster than expected” in response to economic turmoil.
Fortunately, as a Charlotte-based company, Talley Properties has all the information on
the local market. Even with the broad uncertainty that is sweeping the country, Charlotte is still
ranked among the hottest real estate markets. Now might be a good time to jump in a start
looking for investment property that will serve you in the months and years to come. Here at
Talley Properties, we’re always looking to take on new clients and help manage their real estate
portfolio. Contact us today to learn more about our services!