The current housing market is a mix of high home prices and limited inventory, making it competitive for both buyers and sellers. But there’s some good news – there are more homes available now compared to previous years.
My client achieved remarkable success with a quick and seamless transaction. By collaborating with my network, I was able to secure and negotiate a sale for my sellers that exceeded client expectations.
In spite of recent challenges, the housing market shows its resilience. Homes are selling fast, and a lot is happening in terms of transactions.
Despite challenges like high mortgage rates, rising home prices, and limited inventory, there are still opportunities to seize. To succeed in this ever-changing market, both buyers and sellers need to stay informed and adaptable.
With decreasing mortgage rates and slower price growth, now is a good time to buy. It allows you to start building equity immediately and avoid potential future mortgage rate increases.
The housing market is expected to flourish in 2024, with 30-year mortgage costs anticipated to decline, inflation stabilizing, and interest rates decreasing.
There is good news as rates have been cooling off a bit, and if this trend continues throughout the year, as many experts predict, the market activity should heat up in response.
Amidst the challenges of 2023, marked by towering interest rates and escalating home prices, the housing market’s landscape seems poised for transformation and positive shifts in this new year.
It is highly unlikely that the housing market will crash in 2024, and evidence suggests that home prices will remain stable or moderately increase due to limited inventory and steady demand.
If you feel ready and are willing to make some compromises, it’s possible to take advantage of this challenging market. Experts say that affordability conditions could improve slightly going into 2024.