November 21, 2023

By Isabel Guzman, Realtor®

Video Transcription

What's on the horizon for the 2023 housing market what are experts predicting for the 2024 housing market hi I'm Isabel Guzman broker associate and realtor with exp realty. Here are some anticipated Trends and developments we can expect to see in the upcoming year many experts predict that home prices will continue to rise in 2024 at a slightly slower pace compared to previous years.

According to the National Association of Realtors Chief Economist Lawrence Yeun, home prices are expected to increase by around 3 to 4% in 2024 inventory levels are likely to remain below what we as agents deem to be a balance Market but should be at higher levels than 2023 all eyes will remain on the mortgage rates of course as we have seen the gradual increases over 2023 forecasters are predicting interest rates to see a slight decline buyers then will have more financial flexibility to purchase Homes at higher prices and this could generate more Demand on housing sellers will also be in a better position to list their homes and find replacement properties as always these are predictions and the real estate market continues to remain volatile if you would like to know what is happening in your local area with pricing demand and inventory please reach out to me anytime so I can assist and guide you through this ever changing Market. I'm Isabel and I'm always happy to help