Here are a few key insights into the coming spring and summer markets.
In this market landscape, staying informed is crucial, so today, we’re delving into key insights shared by Keeping Current Matters. According to their predictions, this year is poised for significant developments. Let’s break down the key points shaping the real estate landscape in 2024.
1. Market appreciation. Keeping Current Matters foresees an approximate 5% appreciation in the real estate market this year. This positive outlook aligns with the continued strength we’re witnessing as we kick off the year. In central Iowa, the weather has been favorable, drawing out both eager buyers and sellers sooner than usual. As the saying goes, “Spring starts in January,” and the current industry activity reflects just that.
2. Home sales projection. A staggering 5.5 million homes are expected to change hands across the United States in 2024. Despite last year’s challenges, the real estate market demonstrated resilience, and this year’s projected sales figure signifies a robust continuation of that trend. Buyers are actively engaging in the market, and sellers are successfully moving their properties.
“Waiting for the market to peak might mean missing out on favorable opportunities.”
3. Interest rates. One of the pivotal points discussed is the anticipation of interest rates hovering around 5%. However, opinions remain divided on whether rates will begin with a five. Nevertheless, this advise remains unchanged: do not wait to buy. “Date the rate, marry the home” emphasizes the importance of securing a property early, with the flexibility to adjust rates through refinancing down the road.
As we navigate through the year, it’s essential to act strategically. Despite potential fluctuations in interest rates, taking action early is advised. Waiting for the market to peak might mean missing out on favorable opportunities. The projection of increasing home sales and appreciation rates underscores the urgency to make moves now, particularly during the current spring market.
If you have any questions or seek personalized advice tailored to your situation, feel free to reach out to me by calling or sending an email. As the real estate landscape evolves, staying proactive and informed will be key to making the most of the opportunities presented in 2024. Don’t hesitate—take the first step today.