If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief EconThe 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.
CristiandeRitis,DeputyChiefEconomist, Moody’sAnalytics:
“The current state of the housing market is that it is certainly in transition ”
SusanWachter,ProfessorofRealEstate andFinance,UniversityofPennsylvania’s WhartonSchool:
“Housing is going to ease up. I think 2023 will be a turnaround year.”
LawrenceYun,ChiefEconomist,National AssociationofRealtors(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.”
RobertDietz,ChiefEconomistandSeniorVice President,NationalAssociationofHome 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.”
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
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When designing your dream kitchen, it's important to balance timeless features with playful colors, patterns and textures that reflect your personality and design aesthetic. The top interior designers and kitchen experts shared their top kitchen trends for 2023, touching on everything from cabinet colors and kitchen lighting ideas to design styles they're loving.
"We are integrating metalwork onto drawers, doors and shelving Also, dark colors and mixed materials are still really popular, which adds sophistication to the room. " Christopher
of Christopher
Peacock, CEO and founder Peacock Cabinetry"Stone slabs are dominating backsplashes from the countertop to the ceiling, cascading to the floor in waterfall edges and wrapping around islands. Nancy Epstein, founder of Artistic Tile
"One of the best ways to inject color into the kitchen is to paint the island base. It instantly activates a sterile-looking space and doesn’t require construction " Mary Beth
Christopher, MBC Interior Design"We’re going to see a lot more blending of different finishes in the kitchen: Brass, bronze, stainless, nickel and more. By mixing finishes, you get a visually rich, incredibly inviting look."
Tiffani Baumgart, interior designer
"Kitchens with loads of lower drawers, instead of cabinets, are on the rise. Drawers glide out easily, and can store so much. Bending down, getting on your knees and holding a flashlight is no longer a necessity. Plus, extra-large cabinet hardware is the icing on the cake in any kitchen don't skimp or skip on this must-have."
Ruthie Staalsen, interior designer"A butler’s pantry is an entire room of its own. One hidden behind custom cabinetry with a surprise entrance is especially fun when you have a large family or host large gatherings." Nikki Lugh, interior designer
