Menu Close

The 2024 Housing Scoop: What’s Happened and What’s Next?

If you’ve been keeping an eye on the housing and lending scenes in 2024, you know it’s been quite the ride.

We’ve seen a bit of everything – from stabilizing interest rates that had us on a rollercoaster for a while, to more homes popping up for sale, easing that tight squeeze on the market. Let’s dive into the nitty-gritty of what’s been going down this year and take a sneak peek at what the rest of 2024 might hold.

The 2024 Story So Far
This year’s been all about bouncing back and finding our footing. After a wild ride with interest rates, they’re finally starting to feel a bit more predictable, which is a big sigh of relief for everyone looking to buy a home or refinance.
And guess what? More people are deciding to sell their homes, which is great news for buyers who’ve been on the hunt for a while. This shift is slowly but surely moving us towards a more balanced market – not too hot, not too cold.

We’ve Noticed

  • Interest Rates Stabilizing: They’re not jumping around as much, which is nice. But keep an eye out, as we might see some tweaks if inflation decides to make a comeback.
  • Increased Inventory: Sellers are getting back in the game, so there’s a bit more out there to choose from.
  • Balancing Act: The market’s getting closer to that sweet spot where buyers and sellers are on more equal footing.
  • Increased Lending Products: With more flexible loan options, there’s something for almost everyone, whether you’re buying your first home or looking for something a bit more unique.

Projections for the Remainder of 2024

  • Interest Rates: They’ll probably stay on the down-low, but with a few ups and downs possible if inflation gets frisky.
  • Homes on the Horizon: More folks might decide to sell, which could keep adding to our choices and keep prices in check.
  • Tech Takes Over: From virtual home tours to blockchain making a splash in how we buy homes, tech’s going to be a big deal.
  • Going Green: More and more, people want homes that are good for the planet, and that’s going to shape what kinds of homes get built and sold.

Stay tuned, stay flexible, and be ready to jump on opportunities, whether you’re buying, selling, or just watching the market. It’s shaping up to be an interesting year, and who knows what surprises are in store? Here’s to making the most of it!