2022 vs 2023 Market Analysis
Steve Wydler
Steve Wydler
Sales volume for the first half of 2023 is down between 18% and 28% across the DMV. The interest rate environment has contributed to lower sales volume as many would-be home sellers are delaying a move because they don't want to give up their existing lower fixed rate mortgage. The good news is that despite the higher interest rates, the stock market is strong and real estate prices have held steady (and some sought after areas, appreciated) which shows the relative strength/resilience of the DMV real estate market. Looking ahead, we anticipate sales volume for the second half of the year will out-pace 2022 and prices will continue to hold their ground. Life happens and you can only delay a family move for so long. Homes are like haircuts, at some point, you just need to get one.
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Wydler Brothers have been selling residential real estate for over 20 years in the DC metro area. Along the way, they’ve achieved numerous awards and recognitions, including being recognized as “The Most Innovative Real Estate Agent in America” (Inman, 2014), written several articles for The Washington Post, authored a book, “Inside the Sell”, co-founded a real estate tech company which sold to Move, Inc. in 2013, and built Wydler Brothers into a highly respected boutique brokerage with 70 agents and employees which they sold to Compass in 2019. Currently, Wydler Brothers is among the top 3 teams in the DMV and was the #1 Compass Team in 2022.