An increasing number of people are thinking about selling their homes this year. The rise in interest is the result of three major forces changing the real estate sector.
Let’s look at the three driving forces behind this trend:
Surging Home Prices
More than 80% of metro areas experienced home price gains, with some markets posting double-digit increases.*
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.**
Market Optimism
With inflation on the decline and the Federal Reserve sending promising signals, there is optimism for dropping mortgage rates.***
*National Association of REALTORS®, November 2023
**National Association of REALTORS®, “November 2023 Existing-Home Sales Rise After Five Months of Declines,” December 2023
***Forbes, “Mortgage Rates Forecast For 2024,” December 2023
The housing market in 2024 is showing positive signals, presenting an exciting opportunity for both buyers and sellers.
Reach out today and let’s uncover new opportunities together!
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
