Manuel Molinos, A Well-Renowned Realtor In Ocala, Florida, Shares His Predictions For 2023

NEW YORK, NY / ACCESSWIRE / February 14, 2023 / Without a doubt, the covid-19 pandemic marked a global milestone and divided the market into three eras: pre-covid market, covid market and post-covid market. These distinctions are evident at all levels, but are especially noticeable in the real estate industry.

We had the amazing opportunity to talk with Manuel Molinos, an expert realtor based in Ocala, Florida, who shared his analysis on the impact of covid-19 on the real estate market and explained some of his predictions for the industry in 2023.

The truth is that the coronavirus pandemic has had profound impacts on the housing market. It caused the residential real estate market to top-increase an average 33% around the country. At the very beginning of the pandemic, housing sales and new construction initially stalled in the face of economic uncertainty. As the stock market stabilized, housing prices picked up.

Record low interest rates, families feeling cramped after a year of sheltering in place, and supply chain issues worsening our housing stock shortage all combined to create an extraordinarily hot housing market. Sellers took advantage of the market and, of course, set high prices for their properties.

“During the covid market, properties went up over those 2 years about the same as they had gone up in a 10-year period, compared to”, Manuel Molinos explains.

Two years later, entering the post-covid market era, sellers tried to do the same but the market is no longer the same. Neither are buyers. Also, interest rates went up and supply and demand stabilized.

In these days that we are living in the post-covid market era, Manuel’s predictions for this year are certainly quite optimistic. First time home buyers are going to have a better opportunity to buy a property, after two years of a fairly competitive and overpriced market. Currently, there is much more inventory on the market, which means less competition and more opportunities for buyers.

Also, millennials are coming into the market, and with great prominence! This group of people represent a large percentage of the population, have a stable income and, in general, higher savings. In fact, a survey from Bank of America shows that 67% of millennials are “likely” to buy a house in the next two years.

Manuel also adds that the market is going to stabilize this year and give rise to a “healthy real estate market”, where healthy means “similar to the pre-covid era”. Also, property values will stabilize as the market gradually corrects itself.

“The market will continue to grow and expand, and the demand for housing in urban areas will increase. Millennials will continue to take over the market. We will also see more affordable housing options”, he shares.

In addition, according to an extensive analysis by LendingTree, in 2023 single women are more likely to own a home than single men in 48 states. In fact, women will own 10.76 million houses, and men 8.12 million. The numbers speak for themselves!

This year it is also expected that low mortgage interest rates will continue and that the construction of single-family homes will increase by 5%, as also ratified by the National Association of Home Builders.

Without a doubt, 2023 is a good year to invest in property. Contact Manuel Molinos, who is dedicated to helping his extensive clientele to sell their properties, to buy their dream homes and to invest in Ocala. In fact, he provides different types of services to make sure he meets the needs of all his customers!

To find out more information about Manuel, check out his website here and follow his Instagram page here. You can also email him at [email protected].

About Manuel Molinos:

Manuel is an expert real estate agent based in Ocala, Florida.

Contact:

Paula Henderson
561-768-4444
[email protected]

SOURCE: Manuel Molinos