It’s been several years since we’ve had what would be considered a typical spring market: • 2020: COVID-19 closed down the nation for most of what would have been a spring market. • 2021: With interest rates at their lowest point and COVID-19 concerns alleviating, sales hit record levels all year long. A release of pent-up demand made the entire year feel like a spring market of activity. • 2022: Started as an extension of 2021, but then rapidly rising interest rates caused sales to decline sharply through mid-spring and the remainder of the year.
Will there be a spring market in 2023? Robert Dietz, chief economist for the National Association of Builders says
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The spring is likely to mark a turning point. You’re at the low, but you can start to see better days ahead. How far ahead those better days are remains to be seen.
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