Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall.
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The number of homes for sale across the country is growing, and that means more options for those thinking about buying a home. This is the opportunity many have been waiting for who were outbid or out priced last year.
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As the housing market begins its shift back toward pre-pandemic levels, you could have a unique opportunity in front of you. With moderating levels of buyer competition and more homes actively for sale, your home search may have gotten a bit less challenging. Let’s connect to begin the process today.
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Competition is growing more intense heading into the spring season’s busy buying market. Buyers will continue to compete for a limited number of homes for sale. Real estate professionals recently discussed with realtor.com® how their buyers are getting their offers on a home to stand out, besides increasing the amount they’re willing to pay.
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Heading into 2022, there was a wide consensus among real estate firms that the annual rate of home price growth—which peaked at 20% in August 2021—would steadily decelerate this year as some normalcy began to return to a housing market that had boomed during much of the pandemic. But now some experts aren't so sure.
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Today’s housing market is seeing low inventory and high demand. With more buyers looking for homes than sellers listing their houses, this means home prices will naturally rise. Knowing what’s happening with the inventory of homes for sale and the demand for housing is crucial for today’s buyers and sellers.
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