An Axios analysis reported by Isaac Almuces peers into the area’s 2023 residential real estate market.

The outlook for the Philadelphia metro area shows not much improvement. Home prices are expected to increase, but how bad remains to be seen. Drivers of the upward nudges are familiar by now: rising demand and limited inventory.

Predictive estimates from Zillow and Realtor.com range pricing jumps from not too bad (.7 percent) to a level with more sting (5.7 percent).

Realtor.com’s chief economist Danielle Hale reported, “The 2023 housing market could become a ‘nobody’s-market’: not friendly to buyers [or] to sellers.”

Among outliers — suburban ZIP Codes bucking the trends — is Willow Grove, where home price tags have seen declines, albeit small ones.

In fact, the factors that have been tamping down suburban house prices (namely, rising rates and inventory) have been having that effect since 2021, reported, Kevin Gillen, of Drexel University’s Lindy Institute for Urban Innovation.

More on the forecasts for the area’s 2023 residential real estate market is at Axios.

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Real Estate investors Rob Lawrence Shawn Conners speak about how the real estate market in the Philly Suburbs is always changing.