Where are Home Prices Headed in 2023?

By in Real Estate Industry with 0 Comments

Wondering where home prices are headed next year?

Some of the real estate industry’s foremost forecasters have weighed in, and the general consensus is that prices will go up in the new year but at a slower-than-usual pace.

Nationally, home prices tend to appreciate at about 4% per year. But the average of six recent forecasts has prices rising 2.5% in 2023. Have a look at these forecasts:

Tri-Cities home prices have appreciated faster than the national average over the past few years:

  • 2021: 17% appreciation
  • 2020: 11% appreciation
  • 2019: 9% appreciation

As it stands now, Tri-Cities home prices have been pretty static for most of 2022. It’ll be interesting to see if our local numbers finally fall in line with the rest of the country.

Share This
About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

Leave a Reply

Your email address will not be published. Required fields are marked *