How's the real estate market? Quick Facts

Happy Monday! Your real estate experts are here to provide a brief yet important updat on the current real estate market:

  • Stable Mortgage Rates: The 30-year fixed mortgage rate is currently at 6.88%, showing little fluctuation recently.

  • Goldman Sachs 30 year conforming mortgage rate Forecast: The forecast shows a slowly declining rate

  • Rising Home Prices: @GoldmanSachs predicts a 5.0% increase in U.S. home prices in 2024, up from the previous 1.9% forecast.
  • Household formations has exceeding single-family home construction: This will continue to drive home prices up

  • More Open House Traffic: Early this year, we're seeing increased foot traffic in well-priced listings – a positive sign for the market.
  • Expect Stronger Sales in Coming Months: January's closings don't fully reflect the active market. Expect a notable rise in sales this February and through the spring/summer.

As always, we're here and happy to answer any questions you may have! 

Post a Comment