Real Estate Market Forecast: Opportunities for Home Buyers and Sellers in 2024

A growing share of home buyers and sellers sat on the sidelines last year as the pace of home sales continued its downward trajectory. In fact, since the Federal Reserve began its series of interest rate hikes in 2022, the combination of higher borrowing costs and record-high home prices has fostered the steepest real estate market slowdown since the 2008 recession.

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Priced out of the market, a generation of would-be buyers has been forced to delay their plans for homeownership. At the same time, current owners—reluctant to give up their pandemic-era mortgage rates—are waiting to sell, which has resulted in a sharp drop in listings.

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But there may be some relief in sight: In December, the Fed signaled that it was done raising interest rates—and suggested that it could cut rates by 0.75% over the coming year. While mortgages don’t directly follow the federal funds rate, they typically move in tandem—so cheaper home loans may finally be on the horizon. Read more...

Catherine Aguinaldo

Big Block Realty

DRE 01310121

DM to connect:

619-701-6143?

[email protected]

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