According to the most recent release, the experts are projecting home prices will continue to rise at least through 2028 (see the graph below):
So, why does this matter to you? While the percent of appreciation may not be as high as it was in recent years, what’s important to focus on is that this survey says we’ll see prices rise, not fall, for at least the next 5 years.
“. . . mortgage rates will continue to ease in 2024 as inflation improves and Fed rate cuts get closer. . . . a key factor in starting to provide affordability relief to homebuyers.”
“Mortgage rates likely have peaked and are now falling from their recent high of nearly 8%. . . . This likely will improve housing affordability and entice more home buyers to return to the market . . .”
Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024.
As you think about the year ahead, one of your big goals may be moving.
If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates.
If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you.
If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market.
If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in you…
If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in y…
When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed).
Nationally, demand is still high compared to the last normal years in the housing market and plenty of buyers are making moves right now.
The Snyder | Bradshaw Group is led by two real estate veterans who partnered to create an unmatched real estate experience for their clients. Their extensive real estate knowledge and unique approach have forged an elevated level of customer service that benefits their selling clients and buyers alike.