Growth in Home Supply

Name: Housing Market Crash 1980’s Style - Fortune Mag
Uploaded: 2023-12-27T07:06:07-08:00
Duration: 1 min 6 s
Description: As mortgage rates ease, we are gearing up for a boost in the housing market activity. Buyers and sellers who momentarily hit pause are expected to rejoin the

“The offer will be relaxed in 2024. Even homeowners who have been characterized as being ‘tethered’ to low rates will increasingly find that changing family and financial circumstances will lead to more moves and more new homes for sale over the course of the year, particularly as rates approach 6.5%”

~ Lisa Sturtevant, Chief Economist at Bright MLS

As mortgage rates ease, we are gearing up for a boost in the housing market activity. Buyers and sellers who momentarily hit pause are expected to rejoin the action. An uptick in seller listings is on the horizon – a trend that is already gaining momentum! This influx of new listings and increased inventory of homes for sale will bring a more balanced market and exciting possibilities for 2024 home buyers.