A Hopeful Start to 2024
Q1 started out stronger than expected, as Buyers began to anticipate Fed rate cuts by mid-year; buy now and refinance at a lower rate in 6 – 9 months!
Overall, unit sales were down only 1%. The median price was up 6% however, as the continued lack of homes available for sale more than offset higher mortgage rates. Those low rates from the COVID years will continue to effect the number of homes available for sale, as owners just don’t want to part with the 2.5 -3.0% mortgage rates they locked in from 2020-2022. Who would?
As we move into Q2, Fed rate cuts seem less likely and the pace of sales is starting to slow.
Confused as to what you should do? Give me a call today and let’s talk through your specific situation.
My promise to you remains unchanged: candid, truthful and professional real estate advice and services. Always!
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