Today has been an admin day at the office, diving into emails and navigating the intricate world of lawsuits versus commissions. As we approach the year's end, I can't help but share some thoughts on the real estate landscape.
Earlier this year, recession predictions loomed over the housing market, forecasting crashes in prices and sales. Contrary to the mainstream narrative, I foresaw stability with a temporary dip in prices and sales due to dramatic interest rate changes.
Now, as we inch towards the year-end, interest rates are indeed trickling downward, sparking increased activity among mortgage lenders and new buyers. My prediction aligns with this trend – expect rates to decline further into 2024.
What does this mean for the market? Anticipate a surge in sales post-New Year, leading to a decrease in inventory. As supply diminishes, demand will drive prices upward. For buyers waiting on lower interest rates, the time is approaching.
#RealEstateInsights #MarketTrends #RealtorLife"
