The mild recession in the last quarter of 2022 will continue into the first quarter of 2023. For the real estate sector, we anticipate that the industry will anticipate the current economic downturn more quickly than in previous crises, allowing for recovery in the real estate market in the second half of 2023.
We expect buyers and sellers to find a new equilibrium faster in a market that will face average price corrections between 10-20%. In addition, positive signals regarding inflation and interest rates provide visibility for stability and balance in the market from the third quarter of 2023.
