Forecast: 2023 home sales, prices

ORLANDO, Fla. — Metro Orlando homes sales will fall next year as prices tick up, Realtor.com forecasts.

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Why this story matters: Residential real estate trends are important, as every home sale in the state has an estimated local economic impact of $112,500, according to the National Association of Realtors. Also, the housing market often is considered a reflection of the local economy’s overall health.

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The real estate listing and news site on Nov. 30 released its 2023 forecast, projecting an 8.5% year-over-year decline in metro Orlando home sales next year. Meanwhile, Realtor.com expects home prices to grow 2.9% in 2023 compared to 2022.

Click here to read the full story on the Orlando Business Journal’s website.

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