Home Prices on the Rise

2024 Housing Market Projections: Key Insights for Sellers

Seller
May 28, 2024•2 min read

Updated 2024 Housing Market Projections: What Sellers Need to Know

Experts Adjust Their Pricing Forecasts

As we settle into the year 2024, have the experts adjusted their pricing forecasts? The resounding answer is YES!

In recent months, experts have revisited their 2024 pricing projections, drawing insights from the latest market data and indicators. Notably, their revised forecasts instill greater confidence in a rise rather than a decline in prices this year.

Encouraging News for Sellers

This is particularly encouraging news for sellers gearing up to list their homes this Spring. For instance, Goldman Sachs initially forecasted a modest 1.9% increase in home prices for 2023. However, their current projections paint a more bullish picture, with home prices anticipated to surge by 5.0% compared to last year.

Factors Driving the Price Increase

Two prominent factors fueling this uptick are dwindling inventory levels and a downward trend in mortgage rates. Despite a boost in buyer demand following the dip in mortgage rates, the market continues to grapple with limited housing supply, thereby bolstering prices beyond earlier expectations.

The Dynamics of Real Estate Forecasts

It's crucial to recognize that Real Estate forecasts evolve in tandem with market dynamics. What holds true today may undergo changes over time. Fundamentally, it boils down to the principles of supply and demand. With housing inventory remaining constrained, any uptick in demand is poised to propel prices upward.

What This Means for Sellers

If you're a seller contemplating listing your home, now is an opportune time. The combination of rising prices and sustained buyer demand creates a favorable environment for sellers to achieve strong returns on their properties.

Next Steps

Don't hesitate to reach out to my team and me. We will provide a comprehensive home valuation and furnish you with the latest market statistics pertinent to your area.

2024 housing markethome pricesreal estate trendsmarket forecastshome selling tips
blog author image

Bonnie Lelak

As your lifestyle expands, so does your need for space. There’s no better feeling than moving up to a new home that is suited for your latest needs and desired lifestyle, but you understand that the selling process can be challenging, and you want to make sure you sell within a reasonable timeframe without stressing yourself out. When you’re ready to sell your home, one of the last things you want to feel is overwhelmed—since most of us already have too much on our plate. Selling a home and preparing to move up to your next one involves a lot of details and small steps, that if not handled proactively, can easily result in a stressful transaction, or worse, you walking away with less than you deserve. There are many real estate agents out there. Some of them just click a few buttons and hope the internet does the rest. You deserve so much better than that. You deserve the guidance of an expert who will ensure you get amazing, inclusive service from start to finish…an expert who will streamline the process and can make it as seamless as possible.

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Home Prices on the Rise

2024 Housing Market Projections: Key Insights for Sellers

Seller
May 28, 2024•2 min read

Updated 2024 Housing Market Projections: What Sellers Need to Know

Experts Adjust Their Pricing Forecasts

As we settle into the year 2024, have the experts adjusted their pricing forecasts? The resounding answer is YES!

In recent months, experts have revisited their 2024 pricing projections, drawing insights from the latest market data and indicators. Notably, their revised forecasts instill greater confidence in a rise rather than a decline in prices this year.

Encouraging News for Sellers

This is particularly encouraging news for sellers gearing up to list their homes this Spring. For instance, Goldman Sachs initially forecasted a modest 1.9% increase in home prices for 2023. However, their current projections paint a more bullish picture, with home prices anticipated to surge by 5.0% compared to last year.

Factors Driving the Price Increase

Two prominent factors fueling this uptick are dwindling inventory levels and a downward trend in mortgage rates. Despite a boost in buyer demand following the dip in mortgage rates, the market continues to grapple with limited housing supply, thereby bolstering prices beyond earlier expectations.

The Dynamics of Real Estate Forecasts

It's crucial to recognize that Real Estate forecasts evolve in tandem with market dynamics. What holds true today may undergo changes over time. Fundamentally, it boils down to the principles of supply and demand. With housing inventory remaining constrained, any uptick in demand is poised to propel prices upward.

What This Means for Sellers

If you're a seller contemplating listing your home, now is an opportune time. The combination of rising prices and sustained buyer demand creates a favorable environment for sellers to achieve strong returns on their properties.

Next Steps

Don't hesitate to reach out to my team and me. We will provide a comprehensive home valuation and furnish you with the latest market statistics pertinent to your area.

2024 housing markethome pricesreal estate trendsmarket forecastshome selling tips
blog author image

Bonnie Lelak

As your lifestyle expands, so does your need for space. There’s no better feeling than moving up to a new home that is suited for your latest needs and desired lifestyle, but you understand that the selling process can be challenging, and you want to make sure you sell within a reasonable timeframe without stressing yourself out. When you’re ready to sell your home, one of the last things you want to feel is overwhelmed—since most of us already have too much on our plate. Selling a home and preparing to move up to your next one involves a lot of details and small steps, that if not handled proactively, can easily result in a stressful transaction, or worse, you walking away with less than you deserve. There are many real estate agents out there. Some of them just click a few buttons and hope the internet does the rest. You deserve so much better than that. You deserve the guidance of an expert who will ensure you get amazing, inclusive service from start to finish…an expert who will streamline the process and can make it as seamless as possible.

Back to Blog