Group Real Estate forecast: Fewer home sales in 2023
LOVELAND — Realtors will sell fewer houses in 2023 than they did in 2022, which was itself down from 2021.
Brandon Wells, president and CEO of The Group Real Estate LLC, delivered the organization’s annual forecast Wednesday night. The message: Mortgage rates, escalating home prices, continuing low supplies of inventory and inflation’s impact on the biggest cohort of buyers — Millennials — all will dampen sales in the coming year.
He predicted Northern Colorado will see 8,970 home sales, compared with 9,966 in 2022 and 13,148 in 2021.
He called 2022 a tale of two years, with the first half of the year…
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