River Falls WI 2023 Housing Market Prediction has the potential to be very similar to the 2022 housing market based on research and key indicators. In 4th quarter of 2022 with the GDP, CPI index, and the PCE index all started trending positively which drove long-term mortgage interest rates to drop approximately 1 full percentage point down to approximately 6.2% to 6.5%.
Through November 2022 over a rolling 12-month period River Falls new listings and closed sales were all down, but the median sale price appreciated 6.3%, while the average sale price appreciated 5.0%. Inflation is supposed to drop at the end of 2023 significantly and drop down somewhere close to 3.0%. If true, it will have a big impact on mortgage interest rates dropping. Lower mortgage interest rates will cause greater upward pressure on demand, which would increase home sale appreciation. I anticipate the 2023 River Falls WI housing market to remain fairly similar (and possibly with higher appreciation) to the 2022 numbers.
Contact John & Becky Durham at 651-231-2191