Here’s what you can expect from the real estate market in 2024.
What can we expect from the housing market in 2024? Let’s delve into the latest forecasts and expert projections to get a glimpse of what’s on the horizon.
According to expert projections, mortgage rates should come down. There are a few reasons for that, but the easiest way to explain it is that inflation is easing, and that means rates should, too.
We’ve already seen rates decline recently, and that should continue, but know that there might be some slight volatility here and there. As rates come down, more homes will come to the market due to some homeowners delaying their plans to move last year. Now that rates are a bit lower, some of those people are going to jump back into the market—that means more homes for sale as that happens. Also, home price growth will moderate. Basically, prices will continue to climb, just at a slower pace, and that’s good news for affordability.
If you want to talk more about what all of this means for you, call or email me. I’m always happy to help.
