2024 brings us a new year of goals, dreams and aspirations, and some of those may include making a purchase of your dream home! Here are a few key outlooks for the housing market predicted for 2024:
- Sellers Will be on the Market in 2024: With a wide array of people looking to sell their current homes in 2024 including couples looking to upgrade or downsize, people may go on the market to see what the new year holds in anticipating to mortgage rates declining in the coming months and the Spring season right around the corner.
- Mortgage Rates to Stabilize Later This Year: With mortgage rates hitting highs this past year, this Fall we saw slight declines due to the softening of the overall economy and job market. Experts are expecting to see a continuing downward trend into 2024, which will peak buyers to begin loan option discussions with their lenders.
- Home Buyers are Back: While the high interest rates in 2023 deterred buyers, the horizon of the interest rate decline will bring people back to being house hunting in the 2024 season.
- New Constructions are on the Rise: With so many new neighborhood developments in our area such as Republic, Nixa and Ozark to name a few, there are many freshly built properties ready for their first owners. With so many new constructions, there will be a large mix of buyers and sellers within this market space.
With so many moving factors in 2024, I am here to help guide you through every step! Want to connect and learn more? Let’s chat!
Email: kaelie@kaeliesmith.com
Phone: 636-485-1682
Website: http://kaeliesmith.com/
Realty ONE Group Grand | Springfield, MO
