The reSolve Group December Market Update

The reSolve Group December Market Update

  • The reSolve Group
  • 12/14/23

Happy December Everyone!

We’re wrapping up the end of an interesting year in real estate. Inventory shortages and interest rates have been the primary topics of conversation throughout the year, and while those things have brought frustration to many, we feel a tremendous amount of optimism going into 2024. Buyers are back and ready to find the right home for them; they're waiting on houses to buy. Before we dive into last month's data, we're ready to make some predictions for 2024!

2024 Predictions:

The economist for the California Association of Realtors is expecting a housing market rebound in 2024.

- Home sales to increase by 23%
- Median home prices to increase by 6.2%
- The 30-year fixed mortgage rate to decline to 6%
- The supply of homes to purchase to increase 10% to
20% which will still be below normal levels.

The best time to sell your home in 2024 is between January 15th and March 1st. Contact us today to discuss if this window makes sense for you.

 

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