1. Surging Home Prices
More than 80% of metro areas experienced home price gains, with some markets posting double-digit increases*
*National Association of REALTORS®, November 2023
2. High Demand
With fewer homes on the market, demand for available homes is higher than ever. It will take 2.8 months to move the current inventory level, well below the desired pace of 6 months.**
**National Association of REALTORS®, “November 2023 Existing-Home Sales Rise After Five Months of Declines,” December 2023
3. Market Optimism
With inflation on the decline and the Federal Reserve sending promising signals, there is optimism for dropping mortgage rates.***
***Forbes, “Mortgage Rates Forecast For 2024,” December 2023
There are positive signals indicating a stronger housing market in 2024. Are you ready to embrace this opportunity in the upcoming year? Reach out today and start exploring the possibilities that lie ahead!
