Where are home prices headed in 2023?<\/h2>\n\n\n\n
Even though interest rates cooled a red-hot housing market last year, home prices still hit a record high. According to the National Association of Realtors (NAR)<\/a>, the median home price in 2022 was $386,300, up 10.2% from 2021. That was the highest price since the NAR started tracking the data in 1999. <\/p>\n\n\n\n But there are some signs that prices are coming down. Existing-home sales dropped in the last 11 months of 2022 and were down 34% in December 2022 from the previous year. Redfin even predicted that median home prices would drop by 4% in 2023. That would be the first time that\u2019s happened since 2012. <\/p>\n\n\n\n Most experts we spoke with agreed that buyers should be cautiously optimistic about home prices in 2023.<\/p>\n\n\n\n Jason Gelios | Realtor in Southeast Michigan<\/p>\"Home prices will continue to level out in 2023 with many home sellers realizing that not as many people will be lined up to make a bid for their home. Long gone are the days of home buyers flocking in groups to snag a home.\"<\/cite><\/blockquote><\/figure>\n\n\n\n While experts expect home prices to come down across the country on average, each market tells a different story. <\/p>\n\n\n\n \u201cHome prices have peaked nationally and are retreating a bit,\u201d said Bankrate\u2019s Senior Mortgage Reporter, Jeff Ostrowski. <\/p>\n\n\n\n \u201cDuring the pandemic boom, prices were soaring everywhere, both in tech hubs and in the Rust Belt. Now, home values are falling in Northern California, Seattle and Denver, but they\u2019re still rising in Florida and parts of the Midwest.\u201d <\/p>\n\n\n\n Verdict<\/strong>: It depends on the location, but home prices should decline slightly in 2023.<\/p>\n\n\n\n The average 30-year fixed-mortgage rate currently sits at 6.72%. That\u2019s down from highs of 7.24% in November 2022, but still far ahead of the record low of 2.65% in 2021. <\/p>\n\n\n\n Jeff Ostrowski | Bankrate Senior Mortgage Reporter<\/em><\/p>\u201cMortgage rates have caught everyone by surprise. By early 2023, the consensus view was that rates would fall back below 6% during the year. However, the latest jobs report and inflation reading indicated that the Fed might have to keep pushing up rates.\u201d<\/cite><\/blockquote><\/figure>\n\n\n\n None of the experts we interviewed predicted a dramatic change in interest rates in 2023, and all of them said it depends on whether or not inflation starts to cool.<\/p>\n\n\n\n \u201cFor interest rates, we expect them to stabilize around where we are right now for the year,\u201d said Danny Perez, Managing Director of M&D Real Estate. \u201cIt has moderated as inflation has begun to come down. I don't expect interest rates to go much lower this year, but to probably keep bouncing around between 6 and 7%.\u201d<\/p>\n\n\n\n Mike Hardy, Managing Partner at Churchill Mortgage, also predicted rates to hold steady in 2023.<\/p>\n\n\n\n \u201cWe have mortgage rates in this 6-7% range because inflation is not yet contained. As long as we have ongoing inflation concerns, rates will stay in this range,\u201d Hardy said. \u201cI expect the Fed to continue to tighten the federal funds and discount rate until inflation is trending down. When we see this trend, we will see mortgage rates follow suit.\u201d<\/p>\n\n\n\n Verdict: <\/strong>Rates will stay between 6 and 7% in 2023. <\/p>\n\n\n\n While house prices should come down in 2023, high mortgage rates will still make buying a home difficult for many people. <\/p>\n\n\n\n \u201cFor homebuyers, it\u2019s a mix of good and bad,\u201d said Ostrowski. \u201cOn one hand, the pandemic-driven frenzy of bidding wars is over. So buyers can relax a little, take their time and feel confident that they don\u2019t have to bid $50,000 over the asking price to even have a chance. On the other, home prices remain high, and mortgage rates are still up there, so affordability is a challenge.\u201d<\/p>\n\n\n\n Because the housing market looks a lot different depending on where you live, deciding whether to move may ultimately depend on where you plan on going. <\/p>\n\n\n\n \u201cIt will matter less if you are buying and selling in the same market,\u201d said Bill Gassett, a RE\/MAX executive realty agent based in Massachusetts. \u201cHowever, if you are going from an area that favors buyers to one that favors sellers, it might not make sense to make a move.\u201d<\/p>\n\n\n\n \u201cThe biggest bear in the room is inventory,\u201d Perez told us. \u201cWe're beginning to see sellers start to come to the market and listings pick up somewhat already this year. But Dallas-Fort Worth had a decline of 38% in new home construction. That's the biggest decline since 2009, percentage-wise. We still have an inventory problem.\u201d<\/p>\n\n\n\n Danny Perez | Managing Director of M&D Real Estate<\/p>\u201cThe biggest bear in the room is inventory. We're beginning to see sellers start to come to the market and listings pick up somewhat already this year. But Dallas-Fort Worth had a decline of 38% in new home construction. That's the biggest decline since 2009, percentage-wise. We still have an inventory problem.\u201d<\/cite><\/blockquote><\/figure>\n\n\n\n That said, it could be an excellent time to be aggressive if you find a house you love \u2014 even if you can\u2019t quite afford the list price. <\/p>\n\n\n\n \u201cWhat we are telling all of our buyers right now is this: Make offers. Make offers,\u201d said The owners are ready for offers \u2014 they are in seller fatigue. Nothing is selling for list price, so get out there and make those offers and see what kind of traction you can get.\u201d<\/p>\n\n\n\n Verdict: <\/strong>You can find good deals in some markets, but high mortgage rates still make affordability an issue.<\/p>\n\n\n\n Heading into 2023, we\u2019re looking at one of the most uncertain housing markets in a decade. While home prices are actually expected to come down, higher interest rates will offset these savings for most people.<\/p>\n\n\n\n As always, keep a close eye on the locations you\u2019re considering moving to. Prices have dropped the most<\/a> in pandemic boomtowns like San Francisco, Seattle, and Phoenix, while cities like Kansas City, Indianapolis, Virginia Beach, and Louisville have held steady. <\/p>\n\n\n\n <\/p>\n\n\n\n Here are a few extra resources to make your move easier:<\/p>\n\n\n\n We're just going to say it, moving isn't going to be easy. But it doesn't have to be miserable either. There are so many details to the moving process \u2014 hiring movers, making lists, planning ahead \u2014 but having a plan will get you from the old home to the new home efficiently and easily. Check out our 25 tips for moving and packing.<\/p>\n\n\n\n Probably the top moving tip is to have a full plan. It will always help to keep a large process going smoothly. Once you know you\u2019re moving, start the plan. Outline what you need to do and when and keep the whole plan contained to one notebook or folder. Keep contacts in here for the moving companies, any landlords, etc. Also use this to outline the schedule so you can check things off as you go.<\/p>\n\n\n\n [moving-services-widget]<\/p>\n\n\n\n Save yourself the headache later by scheduling your movers as early as you can to lock in your time. It\u2019s okay if you don\u2019t know exactly how much stuff you\u2019re moving \u2014 as long as you provide the size of the home you\u2019re moving out of and the location you\u2019re moving to, you can proceed with a quote and locking in a moving slot. Work with the moving company as you pack to keep them up to date on exactly how much you\u2019ll be moving on the day.<\/p>\n\n\n\n Moving in the middle of the week or middle of the month can be a little more cost-effective if that timing works for you. Check with a few moving companies to see when they can offer you the best deal and see if you can come up with a plan together.<\/p>\n\n\n\n If you\u2019re planning to do the moving on your own, you still want to set up an extensive plan and rent a truck early so you can be sure you have it secured. Follow much of the same advice for if you had movers.<\/p>\n\n\n\n At the top of the list of packing moving tips is to find free boxes. To save money, check your local grocer or similar store for any boxes they\u2019re getting rid of. They may be more than happy to give you the boxes for free. You can also ask neighbors and friends if they\u2019re offloading any boxes.<\/p>\n\n\n\n To prevent having to move a bunch of food or throw out excess, come up with a meal plan for the week or two before moving to use up as much of the food as possible, especially the perishables. Pantry items will be easy to bring to the new place, but you don\u2019t want to deal with a bunch of fridge and freezer foods.<\/p>\n\n\n\n The golden rule of moving tips for packing is to not move anything you don\u2019t need to. While you\u2019re packing, start a box of things you want to donate<\/a>, and even start a box of things to throw out. Moving will be easier if you\u2019re not carting around things you don\u2019t actually want or need.<\/p>\n\n\n\n The logistics of this will depend on where you\u2019re moving to and from. If you\u2019re in an apartment building and\/or moving into an apartment building, you might need to clear the movers with the landlord and get a Certificate of Insurance. If possible, you should also see if you can hold a space for the moving truck in front of the building. If you\u2019re in a house, make sure you have a clear driveway for the moving truck or a clear space on the street.<\/p>\n\n\n\n Plan ahead and have some cash handy to tip your movers. That cost won\u2019t be figured into the moving fee, and it\u2019s important to tip them for their work. Base the tip on the quoted amount so you have an idea of how much you\u2019ll need.<\/p>\n\n\n\n Moving is stressful, and one way to alleviate a little bit of that is to set a plan to order food for at least the first dinner in the new home. It\u2019ll be less pressure to unpack the kitchen and make a mess in the new home and will give you a bit of a break. You can even plan on having takeout the whole next day too, depending on how big of a moving job you have ahead of you.<\/p>\n\n\n\n At the end of the day, you want to just keep calm and collected. By sticking with these packing tips for moving, you\u2019re already on the right track. If you\u2019ve hired movers, they\u2019re professionals and should be on top of everything, provided you\u2019re on top of everything as well. You have an exciting new beginning at the end of the move, so enjoy the process and know that if you\u2019ve planned well, it\u2019ll hopefully go smoothly!<\/p>\n\n\n\n Save yourself some money on bubble wrap and use your clothing as packing supplies. Wrap up fragile items in T-shirts and put small, fragile items inside socks to pack. You\u2019re going to end up packing all your clothes anyway, so this way, they serve a purpose.<\/p>\n\n\n\n Use all the soft items you have as packing materials. Even if you aren\u2019t necessarily wrapping fragile items, these can line boxes to provide a safe spot for your delicate items during travel.<\/p>\n\n\n\n As you\u2019re packing, label each of your boxes with what\u2019s inside, what room it goes in, and a number. Next, have a coordinating master list with all the box numbers and rooms so you can keep close track of where everything is. This also makes it easier should a box get lost in transit.<\/p>\n\n\n\n For the items you know you\u2019ll need sooner rather than later, pack them together and label that box. These will be the items that aren\u2019t as pressing as what\u2019s in your essentials bag but are more important than your DVD collection.<\/p>\n\n\n\n You probably have some small items that you\u2019re worried about getting jostled in transit. Pack those small items in small boxes, like shoeboxes, and then pack those shoeboxes into a larger box. This way, your small items will be better protected, but your movers aren\u2019t dealing with a ton of small boxes.<\/p>\n\n\n\n Your suitcase is a great storage space! Pack it full, but not necessarily with clothes. You can use your suitcase for anything, so pack it full of whatever items you pull off the shelves.<\/p>\n\n\n\n There are a couple of ways you can pack your clothes. After you\u2019ve used some of them as packing materials, you can easily pack the rest in a trash bag, so it\u2019s a little easier to transport without using up a box. For your hanging clothes, though, you can keep them on the hangers and get a box with a rod so you can transport them all very easily and hang them right back up in the new place. You can also still keep them on the hanger but put a trash bag around them to protect them without using a box. There are a lot of options for moving clothes!<\/p>\n\n\n\n If you have a mess of cords behind your TVs and computers, take a picture of everything before unplugging and then label all the cords. You can easily use a piece of masking tape around the cord to label what it\u2019s for and what device it plugs into so you can more easily get everything connected at the new place.<\/p>\n\n\n\n You don\u2019t want your toiletries or cleaning supplies to leak in transit, so open all those bottles and put a piece of plastic wrap over the opening before screwing the lid back on. This should help seal it and keep any liquids from spilling out.<\/p>\n\n\n\n If you have any pieces that you know a mover will disassemble to transport, do it yourself before they get there if you feel comfortable. This will save time and effort on the part of the movers, which can save you money if they charge by the hour.<\/p>\n\n\n\n Guess what? Once everything is packed, you might not have access to it for a little bit while it\u2019s in transit, even if you\u2019re only making a short move across town. For this reason, you should put together a bag of things you\u2019ll need on moving day and the next day, just in case. Include toiletries, clothes, and any food items or kitchen utensils you might need right away.<\/p>\n\n\n\n Similar to your suitcase, you can use your dresser drawers as a moving container. While you can definitely leave your clothes in the dresser drawers for moving, you can also use the drawers for whatever else you want to put in there.<\/p>\n\n\n\n Another way to keep your dishes protected while in transit, if you\u2019re not using clothes or linens, is to use a styrofoam dish between them. So stack the breakable plates alternating with a styrofoam plate and the same with the bowls. This will give them a nice cushion.<\/p>\n\n\n\n This may seem obvious, but you\u2019ll be glad you double-checked all the tape. Tape the bottoms of the boxes thoroughly, including the sides. The same goes for the top, so you can be sure they\u2019re secure.<\/p>\n\n\n\n Have a plan for the moving process, and you\u2019ll be fine. By using these tips for moving, you can cut down on some of the extra stress that comes with relocation and get from your old home to your new home easily.<\/p>\n\n\n","post_title":"25 Tips for Moving and Packing","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"moving-packing-tips","to_ping":"","pinged":"","post_modified":"2022-05-05 01:29:51","post_modified_gmt":"2022-05-05 01:29:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.mymove.com\/?p=51471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}},{"side_article_selection":{"ID":1234,"post_author":"0","post_date":"2019-10-02 11:30:15","post_date_gmt":"2019-10-02 11:30:15","post_content":"\n There\u2019s no getting around it: A move of any kind \u2014 whether it\u2019s just across town or to the other side of the country \u2014 takes time, stress, and money. And before you make your move, you have a lot to figure out. How are you going to handle all the packing? Are you going to hire movers to do the heavy lifting? And what is all this going to cost you?<\/p>\n\n\n\n For some, hiring movers is the right answer. Offloading the stresses of packing, heavy lifting, and transporting is well worth the money spent. For others, saving that money through a do-it-yourself move is the way to go. There are also ways to mix-and-match your services to get the help you really need.<\/p>\n\n\n\n To make the right choice for you and your family, you have to consider a number of factors. MYMOVE is here with the necessary steps you should take to plan for a smooth move.<\/p>\n\n\n\n So you got that new job that\u2019s moving you to another state, but the catch is that you have a month to move. Or maybe you\u2019ve sold your current home and have told the buyers that you could close in the next few weeks.<\/p>\n\n\n\n[moving-services-widget]\n\n\n\n Whatever the life circumstance (and we know that there are a lot of them surrounding your move), time is one of your biggest scarcities. If you have the time to organize, pack, load, and transport your belongings, you may be able to move yourself. But if you don\u2019t have the time or, quite frankly, don\u2019t want to take the time to move, you may want to hire a moving company.<\/p>\n\n\n\n Sit down with your family and be honest with yourselves. Discuss the time it would take to move and compare it to the time life allows. That will help determine if hiring movers is the way to go.<\/p>\n\n\n\n Today, there are more options than ever before when it comes to hiring movers. But engaging professional help with your move does not have to be an all-or-nothing approach. There are ways to cut down on the stress while also being conscious of your wallet through various hybrid moving techniques<\/a>.<\/p>\n\n\n\n In order to make the best decision based on your moving needs, you have to know what kind of services are out there \u2014 starting with these four broad approaches:<\/p>\n\n\n\n This approach is for those who don\u2019t have room in their moving budget to hire movers or are just natural DIY-ers. Choosing to move yourself will save you a lot of money, but will also require extra time, effort, and preparation. You will be in charge of buying moving supplies (like boxes, packing paper, tape, etc.), renting a moving truck, and enlisting help with heavy lifting.<\/p>\n\n\n\n If you feel like you can handle the packing but don\u2019t want to be in charge of transport and heavy lifting, hiring self-pack movers is a good choice for you. You will be in charge of buying moving supplies and packing your boxes, but can hire furniture movers<\/a> to take care of the rest.<\/p>\n\n\n\n Another choice within the self-pack approach: Renting a moving container. Companies like U-Pack Moving<\/a> or Pods<\/a> bring you a moving container that you fill yourself. The company then puts the container on the truck and moves it to your location \u2014 where you can either unpack it or pay for it to be stored. This approach is best if you feel like you can handle the heavy lifting yourself.<\/p>\n\n\n\n If it\u2019s the packing that stresses you out most, offload the task to a professional. Professional packers are trained to treat your belongings with care, using the right materials to ensure that your things get to your new location safely. Hiring packers can save you the midnight box-packing and labeling that creates headaches during the move. You can look for professional packers online through services like Thumbtack<\/a> and TaskRabbit<\/a>.<\/p>\n\n\n\n This is a good approach for those who don\u2019t have the time to devote to the tedium of packing, or for those who have valuable items that should be treated with professional care. But choosing to just hire a packing service means that the heavy lifting on Moving Day is left up to you.<\/p>\n\n\n\n If you\u2019re short on time or just want to cut down on the stress, hiring movers to do everything for you could be worth the money. From bringing the supplies to packing, lifting, and transporting, you can delegate the whole process to the pros.<\/p>\n\n\n\n If you choose to engage professional help with your move, understand what you\u2019re paying for. Make sure you understand every moving service included in your quote<\/a>. There are a lot of questions you should ask a moving company<\/a> before you hire them, so make sure to shop around and compare services.<\/p>\n\n\n\n Most full-service movers include damage coverage, in case your belongings were to break during packing or transport. This offers a great safety net that isn\u2019t included when you do a DIY move. Just make sure to double-check damage coverage policies with the moving company before hiring them.<\/p>\n\n\n\n Next to time, money is the biggest factor when deciding to hire movers. Whether you decide to hire a full-service moving company or choose to stick with one of the hybrid approaches mentioned above, those services will have to be factored into your moving budget<\/a>.<\/p>\n\n\n\n As you sit down to research moving services and crunch the numbers, there are costs to consider:<\/p>\n\n\n\n Costs of moving companies depend on a number of factors, like distance (is it a local move or an interstate move?), your move date, the number of boxes and pieces of furniture and\/or rooms, and how the company charges \u2014 do they have a set price, or do they charge by the hour or weight?<\/p>\n\n\n\nLocation, location, location<\/h3>\n\n\n\n
Will mortgage rates continue to rise in 2023?<\/h2>\n\n\n\n
Will 2023 be a good year to buy a house?<\/h2>\n\n\n\n
The bottom line<\/h2>\n\n\n\n
Getting ready to move?<\/strong><\/strong><\/h4>\n\n\n\n
25 must-know moving tips and packing hacks:<\/h2>\n\n\n\n
Tip 1: Make a game plan for day one of packing until the end of the move<\/h4>\n\n\n\n
Tip 2: Schedule your movers as early as possible<\/h4>\n\n\n\n
Tip 3: Try to make your move during an off-peak time<\/h4>\n\n\n\n
Tip 4: If you\u2019re doing the move yourself, rent a truck early and have a plan<\/h4>\n\n\n\n
Tip 5: Grab free boxes from businesses<\/h4>\n\n\n\n
Tip 6: Eat through your food<\/h4>\n\n\n\n
Tip 7: Start a donation pile while packing<\/h4>\n\n\n\n
Tip 8: Get any necessary paperwork for the movers and make sure they have a place to park<\/h4>\n\n\n\n
Tip 9: Have cash for moving day<\/h4>\n\n\n\n
Tip 10: Plan ahead for the first couple of meals in the new place<\/h4>\n\n\n\n
Tip 11: Keep calm<\/h4>\n\n\n\n
![\"Multi-ethnic](\"https:\/\/www.staging.mymove.com\/wp-content\/uploads\/2020\/12\/GettyImages-509259811-scaled.jpg\")
Hacks for packing:<\/h3>\n\n\n\n
Tip 12: Use your clothes as packing supplies<\/h4>\n\n\n\n
Tip 13: The same goes for linens<\/h4>\n\n\n\n
Tip 14: Label all your boxes and make a coordinating list<\/h4>\n\n\n\n
Tip 15: Label the boxes you\u2019ll need first<\/h4>\n\n\n\n
Tip 16: Pack small items in small boxes before putting them in bigger boxes<\/h4>\n\n\n\n
Tip 17: Pack your suitcases full<\/h4>\n\n\n\n
Tip 18: Pack the rest of your clothes and linens in a trash bag<\/h4>\n\n\n\n
Tip 19: Take pictures of where your cords go and label the cords themselves<\/h4>\n\n\n\n
Tip 20: Use plastic wrap to seal liquids<\/h4>\n\n\n\n
Tip 21: Disassemble your furniture the night before you move<\/h4>\n\n\n\n
Tip 22: Make a bag of essentials for moving day<\/h4>\n\n\n\n
Tip 23: Use your dresser drawers<\/h4>\n\n\n\n
Tip 24: Pack styrofoam dishes between the real dishes<\/h4>\n\n\n\n
Tip 25: Make sure your boxes are taped properly<\/h4>\n\n\n\n
![\"Happy](\"https:\/\/www.staging.mymove.com\/wp-content\/uploads\/2020\/12\/GettyImages-1256867890-scaled.jpg\")
The bottom line<\/h2>\n\n\n\n
![\"Flow](\"https:\/\/www.mymove.com\/wp-content\/uploads\/2019\/10\/mymove_diy-vs-hire-pros-flowchart-p3-1.png\")
<\/a><\/figure><\/div>\n\n\n\nA step-by-step guide to determining if you should hire professional movers<\/b><\/h2>\n\n\n\n
Step 1: Take a look at your timeline<\/b><\/h3>\n\n\n\n
Step 2: Consider the different moving approaches<\/b><\/h3>\n\n\n\n
Do a DIY move:<\/b><\/h4>\n\n\n\n
Hire self-pack movers<\/b><\/h4>\n\n\n\n
Pay for professional packers, but move yourself<\/b><\/h4>\n\n\n\n
Hire full-service movers<\/b><\/h4>\n\n\n\n
Step 3: Examine your budget <\/b><\/h3>\n\n\n\n
Understand the starting prices: <\/b><\/h4>\n\n\n\n