2024 is off to a good start for today’s real estate market and since the pandemic it’s been a pretty inconsistent market. We saw pending home sales during December 2023 and going into the new year up 8 percent. The early predictions are showing we will see on average about a 13 percent increase in home sales. February 2024 alone is expected to see a 13 percent increase and over 15 percent increase in home sales in 2025. A 30-year fixed mortgage rate is expected to float around 6 or 7 percent.
Consumers are also seeing rates drop and stable home prices for a first time in a long time. If you are in the market to buy a home in 2024, this might be a good year to get a good deal.