Top Analyst’s Predictions for the 2024 Real Estate Market
The most consistent thing about any market is change, this is especially true of the real estate market. Below are the top analysts’ predictions for the 2024 real estate market, no crystal ball required.
- Rising interest rates will end and the 30-year rate will level out spurring the market for both buyers & sellers.
- Home prices will modestly increase in most markets, although not at the rate earlier predicted by forecasters.
- The supply of homes for sale will also modestly increase in 2024 with an expectation that the combination of rates, prices and household income will make homes about 5% more affordable by the end of 2024.
- Barring a significant increase in the available inventory (homes for sale) 2024 will remain a sellers’ market.
- With the continuation of low inventory and high demand most experts predict there will not be a housing market crash in 2024.
In today’s real estate market, you don’t need a crystal ball, just knowledgeable professionals to help you navigate the landscape. Talk to your Personal Relocation Manager (PRM) at Moving Station to get your 2024 home sale off to a great start.