I could not be more excited to start this New Year and new beginnings for my buyers and sellers!
One week into 2024 and we have solid indicators for a stronger 2024!
Here are some optimistic data points from our morning Compass Monthly National Update Summary and my own predictions:
· Sales are expected to rise 18% to 4.6M homes vs. the 3.9M that were sold last year (NAR)
· Interest rates are expected to drop to 5.75% (Freddie Mac)
· Inflation is expected to recede to 4.9% - down from 7.7% (Statista)
· First time homebuyers will make up roughly 30% of home sales
· Self-financing for purchases (from family and personal funds) continue to increase as finance options for buyers
· Purchasing a second home or investment property will be a common objective among my clients
· Motivated Buyers will secure stellar rates with incentives, buydowns and relationship discounts from lenders
· Motivated Sellers will not sit on the market and be anxious to price their homes competitively to get to their next home.
Any questions? Call or text me anytime to explore the market or talk through your real estate objectives!