6 Reasons Why Q4 of 2022 was the Bottom of the Recent Real Estate Market Cycle + Top Things to Do this Weekend

Happy Saturday, Y’all! Our Compass brokerage co-founder Robert Reffkin recently went on CNBC to discuss his outlook on the current market and the initial positive signs we are seeing in 2023, saying “For the first time in 10 months, all the statistics I look at are trending positively." This is a great outlook to focus on for both potential buyers and sellers as we continue to move through the 1st quarter of 2023.

Reffkin also shared some more in-depth expert insight and reasoning, including a rundown of why he believes the last quarter of 2022 was the bottom of the recent real estate market cycle, which I’ve highlighted down below! If you’d like to discuss any of this market information further, I’d love to answer any of your questions.

I hope you all have a wonderful weekend ahead, and if you’re looking for something new and fun to do, be sure to check out my ATX weekend guide below!

2. Mortgage rates continue to move down to a 4-month low.

3. Increase in buyer interest, open house traffic, and offers.

4. In the last quarter of 2022, 42% of sellers were giving concessions to buyers at the closing table, a 10-year high.

5. Home builder sentiment improved for the first time in 1 year.

6. Pending closings were down 30+% at points in the fall but over the last few weeks, we have seen pending listings in most of our markets nearly flat year over year. 

Learn more about these trends by checking out Robert Reffkin's full CNBC segment here.

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January 27-29