Inflation did a number on many people last year. Prices soared, wages remained stagnant, and many of us had to make serious choices regarding what to spend money on.
Thankfully, 2023 might be a year where prices on many things start to come down. So if you’re in the market for some big-ticket items, these are the ones to watch for this year:
Real Estate: The urgency to get in a house, no matter the cost has cooled since the COVID pandemic hit and home prices have already started to fall on a month-to-month basis, according to the S&P/Case-Shiller index
Rent: The Zillow observed-rent index has already dropped in September, October and November.
Cars: Experts predict car prices falling in the second half of the year now that the semiconductor shortage is under control.
Appliances: Just like cars, stabilizing the semiconductor shortage will stabilize appliance prices.
Electronics: With the microchip shortage ending and less people working from home, these prices won’t have the sticker shock they used to.
Hotel rooms: Hotels are recovering from the surge in post-pandemic vacationers, which is helping prices fall back in line.