Home / Daily Dose / Real Estate Market Confidence Remains High
Print This Post Print This Post

Real Estate Market Confidence Remains High

New Western, a private online marketplace for flippers, has released a new report on the state of real estate investment throughout the country. 

This new analysis offers insight and uses proprietary data from New Western and surveys from it network of 150,000 buyers and found that overall buyers remained confident in 2022 and into 2023 even though housing inventory remains low and interest rates continue to rise. 

All-in-all, the report found that 73% of investors surveyed said their respective businesses grew between the years of 2021 and 2022, and 70% said they plan to continue investing in 2023. 

Additionally, 63% of investors who are interested in purchasing for the first time in 2023 said that interest rates are not a barrier for them as 59% plan to use cash reserves or private money. 

Further, the survey revealed a greater market share of youth moving into residential real estate investment as 7% of investors on the platform are between 18-29-year-old as are 15% of investors looking to purchase for the first time in 2023. 

"Even though rising interest rates present a challenge, the reality is we have a deficit of five million families that need homes," said Kurt Carlton, President and Co-Founder of New Western. "So the demand is there, but inventory nationwide is still very low. We know there will not be enough new builds to close the gap, while the exit of iBuyers from the investor market will open up a surplus of options for individual investors to scoop up deals and provide inventory by rehabbing existing homes. Traditional market headlines will focus on a macro environment that won't appear favorable, but there's more to the story in 2023. Smaller investors will leverage their local knowhow and nimble operations to find opportunities in their neighborhoods, and will continue to grow their fix-n-flip or rent businesses."

About Author: Kyle G. Horst

Kyle G. Horst is a reporter for DS News and MReport. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography including best newspaper design by the Associated Press Managing Editors Group and the international iPhone photographer of the year by the iPhone Photography Awards. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at [email protected].

Check Also

Many Americans Aren’t Optimistic About 2024’s Housing Market

While the housing market remains unpredictable, a surprising percentage of surveyed Americans report wanting it to crash in 2024, according to a new LendingTree study, as many believe that might be the only way they could afford a home.