Looking Back on the 2024 Real Estate Market
As we started a new year, the real estate market was once again shifting. In 2023 there were fewer than 4 million real estate transactions. That was the lowest number of homes sold in the last 30 years.
It’s time for us to now look at what’s coming in the housing market in 2024.
You may have already seen our bold predictions for the real estate market. We update this twice each year. It contains the most current information that we have about the real estate market. It includes a historical perspective on interest rates and some well-researched stats on why the typical homeowner moves. People move for different reasons. Here are the top 10 reasons and we will be exploring them in the weeks and months ahead. We would appreciate it if you would participate in our Time to Move On Buyer and Seller Survey.
Over the past 10 years, interest rates have ranged between 5% and 10%. We did see some very low rates, though, that make these numbers look high. Many experts project that interest rates will finally start to decline, likely in the summer. When that happens, it’s anticipated that there will be an influx of buyers and sellers ready to enter the market.
Always remember that we are here to answer any questions you may have about real estate and help you through every step of your future home sale or purchase. We want to be your trusted real estate advisor, whether you plan to sell or buy. Please feel free to reach out any time!
