Another year together!
1. In the anticipation of the year ahead, the real estate market in 2024 is forecasted to witness a 4-7% appreciation in home values, as suggested by The National Association of Realtors.
2. The current administration is expected to exert pressure on the Federal Reserve and banks to lower mortgage rates starting in Spring, a move aimed at bolstering the economy in the lead-up to the election. This pattern, common across different administrations, has been my observation over the last decade as a Realtor.
3. The market is currently warm and is projected to intensify during Spring and Summer before cooling down by the end of September. Following this, buyers typically tend to remain on the sidelines until after the election.
4. Mortgage rates, on average, are reported to be in the mid 6% range.
5. The optimal time to sell this year is from NOW to August, the optimal time to start the preparation process would be NOW.
6. If you need help getting your home ready – call us. We have resources for you.