If you’re going to invest in the real estate market in 2023, what do you need to consider before investing your hard-earned money into a solid investment? You may have heard that real estate investing is now mired by difficulties. With interest rates rising, the verifiable boom of 2021 in the wake of the COVID-19 pandemic might seem to be over. However, as with all investment opportunities, your success in the real estate market depends on where you’re looking for opportunities.
It is expected that, following declines in 2022, the housing market is expected to stabilize in the coming year as economic dysfunction sorts itself out. While many jobs require people to return to the office, many others remain work from home. As such, this will allow people to move into more affordable housing areas outside of the city market. Specifically, states like Florida, Georgia, and Arizona saw positive growth over last year and are expected to continue.
Further, many Americans are relocating away from the extreme weather of the west coast. People are moving inland, thus creating an opportunity for those who own property in these regions to take advantage of this new migration of residents.
Further, despite concerns over the housing market, home prices year over year have not decreased as significantly as some have believed. In an article in Forbes, writers Robin Rothstein and Rachel Witkowski observe, “The median existing-home sales price was up 2.3% to $366,900 in December compared to a year ago, according to the National Association of Realtors (NAR).” They observe that this is the 130th consecutive month of increasing home value.
So there are people who are interested in relocating, but with the cost of everything rising, it is also difficult for people to afford homes. People will be continuing to rent property, which will only further establish the importance of the housing rental market. Those who are renting out property long-term will potentially benefit from this new influx of renters, especially in areas where people want to move.
As always, it’s a challenge determining what real estate offerings are best suited for all parties. It’s vital, when searching for investment offerings, to understand the sort of fund you’re putting your money into. This is where Oasis is perfectly positioned to benefit you as an investor.