What's next for the housing market? Find out by reading our blog at https://t.co/P5HLaNvBo8. (And no, there's not going to be a crash.) @todayre@KCMcrew
In Memory of a great mentor to all Agents and others in Real Estate. His wisdom along with his caring nature will be missed. He was one of the good guys!#steveharney@tomferry@hjs423@KCMcrew
How the week started...
The combination of lower interest rates and the equity homeowners have make it a good time to market your home. Let's talk soon about your plans. @todayre@tomferry@hjs423
More proof the housing market is heating up! The National Association of Realtors (NAR) just released their Pending Home Sales Report that showed pending sales were:
🔹UP 8.3% Month-Over-Month
🔹UP 1.3% Year-Over-Year
Lawrence Yun, NAR chief economist, said:
“The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices, Job additions and income growth will further help with housing affordability, but increased supply will be essential to satisfying all potential demand.”
Just sayin’…
Now, The National Association of Realtors (NAR) has upgraded their forecast for the 2024 housing market. From the Pending Homes Sales Report released this morning:
🔹HOME PRICES
“The annual median home price is expected to rise 1.4% to $395,100 in 2024.”
This is up from their previous forecast of 0.7%.
🔹 HOME SALES
According to Lawrence Yun, chief economist at NAR:
“Home sales are projected to rise significantly in each of the next two years as the market steadily returns to normal sales activity,”
Just sayin’…
Is buying a new home on your to-do list for 2024? Our blog this week at https://t.co/CswmMx5iWH has some ideas about what you should be keeping in mind. @TodayRealEstat3@KCMcrew@tomferry@hjs423