📶 Welcome back to another episode of Suburban Snacks, your ultimate destination for bite-sized insights on all things real estate. I’m Cheri, and today we’re discussing what’s ahead for the housing market in the second half of 2024. So, if you’re curious about home prices, mortgage rates, and home sales, stick around! And I’ll also be giving my reactions to our new treat!
First up, let’s talk home prices. Experts are forecasting a moderate climb ahead. Why? Well, the National Association of Realtors points out that while housing inventory is up from previous years, it’s still on the lower side. That scarcity is pushing prices up, though not as dramatically as during the pandemic. So, if you’re thinking of buying, jumping in sooner could save you some cash in the long run.
Now, for some good news for buyers and sellers alike: mortgage rates are expected to drop slightly. Even a small decrease can mean big savings on your monthly payments. And for sellers, lower rates mean more buyers entering the market, potentially leading to quicker sales and even better offers.
And speaking of sales, what about home transactions? Well, it looks like they’re projected to hold steady, maybe even increase a bit from last year. With more jobs, steady rates, and more homes hitting the market, there’s optimism for a bustling real estate scene in the months ahead.
So, whether you’re buying, selling, or just curious about the market, now’s a great time to get informed. If you have questions or need guidance navigating this evolving landscape, reach out to us. We’re here to help you make sense of it all.
Now it’s time to review our snack! Let us know in the comments. Thanks for tuning in to Suburban Snacks! Don’t forget to like, subscribe, and hit that bell icon for more bite-sized updates on real estate. Until next time, stay informed and happy house hunting!
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