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2024 Real estate market trends | What you need to know
Housing Market Forecast for 2024
HOME SELLERS: Here's What the NAR Settlement Means for You
HOME SELLERS: Here's What the NAR Settlement Means for You
For a housing recovery to occur, several conditions must unfold. “For the best possible outcome, we’d first need to see inventories of homes for sale turn considerably higher,” says Keith Gumbinger, vice president at online mortgage company HSH.com. “This additional inventory, in turn, would ease the upward pressure on home prices, leveling them off or perhaps helping them to settle back somewhat from peak or near-peak levels.” And, of course, mortgage rates would need to cool off—which experts say is imminent despite rates edging back up toward 7%. For the week ending April 11, the 30-year fixed mortgage rate stood at 6.88%, according to Freddie Mac. (...)
HOME SELLERS: Here's What the NAR Settlement Means for You
HOME SELLERS: Here's What the NAR Settlement Means for You
HOME SELLERS: Here's What the NAR Settlement Means for You
As a home seller, you have a wide range of choices when it comes to listing your home. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate this complex process and make the choices that work best for you. NAR’s recent settlement has led to several changes related to broker commissions that benefit sellers, and we wanted to clearly lay them out for you.
Here is what the settlement means for home sellers – CLICK BELOW TO READ MORE
HOME BUYERS: Here's What the NAR Settlement Means for You
HOME SELLERS: Here's What the NAR Settlement Means for You
HOME BUYERS: Here's What the NAR Settlement Means for You
Buying a home is one of the largest financial transactions most people will ever undertake. Agents who are REALTORS® are a trusted source of advice and stand ready to help you navigate your homebuying journey and make the choices that work best for you. NAR’s recent settlement has led to several changes that benefit homebuyers, and we wanted to clearly lay them out for you.
Here is what the settlement means for home sellers – CLICK BELOW TO READ MORE
The Changes Will Impact These Home Buyers Most
The Changes Will Impact These Home Buyers Most
HOME BUYERS: Here's What the NAR Settlement Means for You
“In the short term, it is absolutely going to injure buyers, especially FHA and VA buyers,” Gibbs says. “With rare exception, these buyers are not in a position to pay for their own agent.” Gibbs says that if sellers don’t offer compensation, many buyers who can’t otherwise afford to pay a broker will choose to go unrepresented. (...)
Housing Inventory Forecast for 2024
The Changes Will Impact These Home Buyers Most
All eyes are on interest rates in 2024
With many homeowners “locked in” at ultra-low interest rates or unwilling to sell due to high home prices, demand continues to outpace housing supply—and likely will for a while—even as some homeowners may finally be forced to sell due to major life events such as divorce, job changes or a growing family. “I don’t expect to see a meaningful increase in the supply of existing homes for sale until mortgage rates are back down in the low 5% range, so probably not in 2024,” says Rick Sharga, founder and CEO of CJ Patrick Company, a market intelligence and business advisory firm. Housing stock remains near historic lows—especially entry-level supply—which has propped up demand and sustained ultra-high home prices. Here’s what the latest home values look like around the country. (...)
All eyes are on interest rates in 2024
The Changes Will Impact These Home Buyers Most
All eyes are on interest rates in 2024
Speaking of interest rates, this is the thing to watch in 2024, experts said. As noted, they've already started to dip. And the Federal Reserve recently signaled it's done with interest rate hikes and could even start cutting rates. "This interest rate shift downward could inspire some sellers to get in the market who had been waiting on the sidelines because it didn't make a lot of fiscal sense for them," said Alison Socha, the outgoing president of the Greater Boston Association of Realtors. She's referring to the fact that some homeowners with low interest rates on their mortgages may have been hesitating to look for new homes at a time of higher premiums on borrowing. "Regardless of interest rates shifting or not, I think that we are still going to see the market remain very consistent through the beginning of 2024 due to demand still being high, availability of financing still being solid, and just inventory being low," Wallick said. (...)
NAVIGATE THE REAL ESTATE MARKET WITH AN EXPERIENCED Realtor®
Looking to sell, buy, or invest in property?
Look no further! With over 18 years of real estate experience, I'm a dedicated REALTOR® committed to delivering optimal outcomes for you. Benefit from my proven track record of over 100 successful sales. I'll handle everything, from effective marketing to seamless transactions, ensuring your property sells quickly for top value or matches your needs and budget when buying.
I understand the stress involved, so I'll make the process smooth and stress-free, handling staging, repairs, and negotiations. With constant communication, I'll keep you informed while you focus on other priorities. Ready to make a move?
Contact me today for expert guidance and peace of mind. Daniela Afonso @ 617.201.9864.
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