New textiles, colors, and patterns will take forefront in 2023, with complementary colored sofas and accent chairs creating visual interest. “We're really excited about larger pieces in bold colors, like burnt orange paired with muted pastel paint and textiles,” Labourdette-Martinez and Wahler share.
Coming first on the list is Scandinavian interior design, with over 700,000 pins. A minimalist style, “Scandi” decor is marked by clean lines, neutrals with the occasional pop of color, and soft textures like linen and wood. Second place goes to Art Deco, with over 568,000 pins.
The trend for 2023 will certainly be curves, soft edges and arched shapes that add softness and sophistication to the home. Not only does this lend itself to creating visual interest but also meets the "Comfortcore" criteria for home design since curved furniture invites users to feel comfortable instead of confined.
Also known as The Studio McGee look. This style, which mixes earthy neutrals with shades of green and blue, the rusticity of farmhouse style, and fresh traditional furnishings is the look of the masses in 2023.
“Home prices won't drop in 2023,” Evangelou says. “I expect pricing to be relatively flat.” “If inflation pressures ease and we see a meaningful pullback in mortgage rates, this will ease some of the strain on buyers — but only a bit,” McBride says.
Homebuyer.com data analysis indicates that July 2023 is a good time to buy a house for first-time home buyers. This article provides an unbiased look at current mortgage rates, housing market conditions, and market sentiment. We highlight why 71 percent of renters would buy a home if their lease ended this month.
Experts are predicting that the market will be appreciating more slowly than it did before, but nevertheless, the average price will likely climb by 1% - so buyers are going to need to be on their toes if they want to find an affordable home. If you're planning on buying a house in 2023, it helps to be prepared.
Viva Magenta by Pantone
Rounding out a year of blush-tone selections, Pantone selected Viva Magenta 18-1750, a bold pinkish red, as its 2023 color of the year, calling it "an unconventional shade for an unconventional time."
The consensus is that grey is out and warm neutrals will continue to dominate in 2023.
Warm and Calming Neutrals
“In the living room, we are seeing warm, calming blues, peach-pinks, and sophisticated neutrals like sable, mushroom, and ecru—these are really catching my eye for 2023,” she says.
Cottagecore is the blooming hot fashion that is becoming more popular. The beautiful farmhouse interiors, which may be on the wane, are being replaced by this style—despite being somewhat similar.
However, some experts have made predictions about what colors may be popular for ceilings as well in 2023. Some color trends that have been predicted for 2023 include: Dark and moody colors such as deep blue, navy, and charcoal gray, which can create a sense of drama and elegance in a room.
While it is possible for median home prices to fall by 5% in 2024, if mortgage rates decline faster than predicted, home prices could remain mostly flat through the end of 2024.
Despite what some may think, 2023 is still a good year to invest in real estate, thanks to advantages like long-term appreciation, steady rental income, and the opportunity to hedge against inflation. Mortgage rates are expected to decline, but the housing market is likely to remain competitive due to low supply.
Consumers should buy a home during a recession if qualified and willing to wait for prices to drop. Of course, buyers don't need to know for sure when the housing market will crash to buy a home. The only rule for buying a home is that a purchaser should proceed when ready. Property is a solid and stable investment.
Freddie Mac also forecasts that the 30-year fixed-rate mortgage will average 6.4% in 2023, with an average of 6.2% in the fourth quarter.
Along those lines, organizations like Fannie Mae and the Mortgage Bankers Association forecast that the average rate on 30-year fixed-rate mortgages will decline throughout 2023, continuing into the first quarter of 2024.
The state where house prices are predicted to be the highest by 2030 is California, where the average home could top $1 million if prices continue to grow at their current rate. Other states expected to see their average house price rise above the $750k mark include Hawaii, Washington and Colorado.
Predictions for home prices
McBride predicts home prices will average low- to mid-single-digit annual appreciation over the next five years. This rate of appreciation, he says, is consistent with the long-term average of home prices increasing by a rate that hovers a percentage point above the inflation rate.
Vintage Interior Design
Whether it's a classic mid-century modern piece or a vintage-inspired color palette, this design style effortlessly withstands the test of time, making it a perennial favorite for those seeking enduring elegance and character in their homes.
This may be a surprise to many, but we are expecting more dark wood tones to pop up in homes in 2023! Last year we saw a lot of DIY bleached furniture and light wood floors.