What you need to know about housing market predictions in 2024.
What’s going to happen in our real estate market in 2024? Expert predictions are in, so today, we’re breaking down what people are predicting and explaining what it all means for buyers and sellers.
The first prediction is that the real estate market will heat up in the spring. This is a normal trend for most years, but it could be more pronounced in 2024 since the Federal Reserve has announced three interest rate drops this year.
Despite lower rates, we expect many of the current trends in our market to continue. For example, low inventory probably isn’t going anywhere. This means that buyers might want to act before rates fall so that they can beat the rush and get a good deal on a home before multiple-offer situations become common again.
Right now, we recommend buyers take advantage of our current low-demand market and interest rate buydowns to get into a new home before the spring frenzy hits. In the meantime, call or email us with any questions. We look forward to hearing from you!