Conflicting Real Estate Forecasts, Who is Right

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Conflicting Real Estate Forecasts

[00:00:00] Well, hey, real estate fans. Alice Lema, here broker John Scott in beautiful Southern Oregon with another edition of the Weekly podcast. Today we're gonna talk about who do you believe for 2023, all the conflicting opinions. So we're gonna talk about, we're gonna talk about how to sort through all that and how to really have some concise data to make your real estate decisions.

Before we get to that, let's have a quick chance to subscribe to the channel if you haven't already. We also take questions. You can send this to your friends and family. It's for educational purposes. We also invite you to. Jump on our website. It's super robust. It has a ton of information, not only about listings, but about southern Oregon in general.

Eileen's been taking care of that this year. She's done a great job. Super robust, lots of information, stuff about communities, neighborhoods, areas, the lifestyle, the Southern Oregon lifestyle. Yeah, so even if you live here, you should go on AliceLema.com. You'll learn something. Something [00:01:00] you didn't know.

Okay. Enough of that sales pitch. Let's get on with the podcast. Who you gonna believe for 2023? All these conflicting opinions. Well, I wanna show you this chart that I found from keeping Current Matters. KCM, it's one of our favorite websites. We refer to it a lot during the year, and you can see there's seven different opinions.

And this is what I wanted to point out cuz we're all, you know, with our friends and our family. It's the holidays, there's all this stuff going on, and there's a lot of opinions and there's a lot of stuff on the news in both directions. And I just wanna like take a second and let's bring everybody back to the data because when you have, especially this wide of range of opinions you really need to take the time to dive into the property area that you're talking about and the type of property that you're talking about, because how we're gonna address buying and selling like duplexes and fourplexes in [00:02:00] 2023 it's gonna be completely different than what we're gonna do with a regular subdivision home or new construction or commercial or a farm. It's, it's gonna be different this year because the market is trying to stabilize.

And you see from that chart we had up earlier, we have everything from a plus 5.4% all the way down to a minus 5.1 and everything in between. So for Southern Oregon in particular, we are a lifestyle, what we call a lifestyle region. People move here because of the lifestyle and now that we have more and more people leaving the big cities, we're more and more in demand.

So I'm gonna go on a limb and cuz I love doing that, especially this time of year and predict that Southern Oregon is gonna do fairly well. I don't think we're gonna have a minus, unless it's gonna be in the super high price ranges, like 800, a million, 2 million. We might see quite a of [00:03:00] price decline in those.

But for the rest of us, you know, buy and selling in that 200 to 500, 200 to 700 range here in southern Oregon, I think we're gonna see a small amount of growth somewhere between three to 7%, depending on the type of property and the in the year in southern Oregon. So so we'll see how that pans out. We'll check again next year. Next week we're gonna check my predict from last holidays, from last January, we'll go back and see and what we were talking about this time last year versus what happened now that the year's almost over. So that'll be really fun. So you'll wanna catch that episode.

In the meantime would love to help you with your real estate. We can talk about getting ready for something. It's always better to plan, right. But if you don't have time to plan and you just wanna jump into something, let me know. I'm here to help my number's 541-301-7980. So that's the podcast for today. Hope that helped. [00:04:00] Hug those you love, and we'll see you next week for the prediction reveal. Okay? Okay. Have a beautiful week. Bye now.