The real estate market has undergone several notable shifts over the past few years. From its already competitive 2019 conditions, it continued to heat up in mid-2020 despite the pandemic. With the scarcity of available properties expected to continue, prices are anticipated to rise again, although not necessarily at the same rapid pace observed over the previous four years. Instead, most experts expect moderate price increases in markets nationwide. It’s essential to recognize, though, that specific areas like Austin and certain parts of California, which experienced significant growth during 2021 and the initial half of 2022, are currently undergoing a period of stagnation or even a decrease in market prices. As a result, these regions might require an extended time frame for their property values to recover.

