2024 HOUSING MARKET FORECAST

Many are wondering what will the 2024 housing market forecast look like? If you are considering buying or selling a home in 2024, you probably want to know what to expect from the housing market. In 2023 there was much confusion the whole year as the mortgage interest rates went ballistic to take cool the market. This created a lot of challenges for home buyers and home sellers that wanted to make a move. The good news is many experts are optimistic that we are now turning a corner and going in a positive direction as rates took a tumble and not increasing anymore as we close out 2024. 

Mortgage interest rates were headed to 8% and now the second half of 2023 they are decreasing and may fall further due to cooling economy. Even though home prices are increasing, the mortgage interest rates are in the process of slowly falling back in line with affordability coming for 2024. This will open up a pool of homebuyers and home sellers to make transactions. With high home prices and high mortgage interest rates many first time buyers in the second half of 2022 that truly wanted to purchase a home were shut out and had to rethink the process. Click link to learn more about homes coming on the housing market /HOMES-COMING-ON-THE-HOUSING-MAKET---32819---32836---Dr--Phillips-6-26134.html

HOUSING SUPPLY

In Central Florida to include the Dr. Phillips area the housing supply currently the whole year of 2023 has been holding on an average a 30-40 month supply of homes. As the Mortgage rates ease, activity in the housing market is projected to pick up as for many home buyers and home sellers were holding off. Regarding if more sellers list their homes for increased traffic, sales volume will grow. This makes sense as the mortgage interest rate slowly continue to fall. If you are looking to buy or sell a home in 2024, the best way to ensure you are up- to-date on the latest forecast is to partner with a trusted real estate advisor. Call Kevin Strawter at 850 496-6412.

TRUSTED REAL ESTATE ADVISOR

As a trusted real estate advisor, professional realtor and retired military veteran I am here to serve you in the Dr. Phillips area and Central Florida for the sale and purchase of your home. In the absence of trustworthy information whether it's a housing crisis or local housing market, real estate decisions are increasingly being driven by fear, doubt and uncertainty. We as trusted advisors drive the real estate community to ensure you are making the right decision.

Part of my job is to keep you informed and educated about the local housing market trends, to include common terms and videos. It is important to keep up to date on the housing market trends, don't get confused with the media, they talk national level, I can provide the most up to date local area data. 

So don't let this shifting housing market delay your dreams, data reveals home value typically appreciate over time and that gives your net worth a nice boost. When you are looking for a home, look for your realtor with the heart of a teacher.  If you are ready to start your journey, contact me at 850 496-6412 to begin a new walk to homeownership and all your real estate needs. Always accepting referrals.