Here’s the scoop for 2024!

Home Prices: Prices are expected to keep going up, but not as fast as before. So, homes will still be expensive, but the increases might slow down a bit.

Interest Rates: Mortgage rates could rise a bit. That means borrowing money might cost a bit more, but it probably won’t totally mess up the market.

Low Inventory: There won’t be enough homes for sale, especially cheaper ones. It’s like trying to find a seat when the music stops—competitive and not a lot of options.

City vs. Country: Big cities and coastal areas will likely see more action. If you’re okay with living further out, you might find better deals away from the hustle and bustle.

Young Buyers: Millennials and Gen Z are still a big deal. They like eco-friendly homes and cool neighborhoods. If a place isn’t trendy, it might be harder to sell.

Affordability Issues: It’s still tough for first-time buyers. Prices are high, and with higher mrtgage rates, it might be harder to afford a home.

Investing: Real estate is still a good bet for investors. Renting out homes or buying vacation spots can be profitable if you know what you’re doing.

Government Stuff: Pay attention to what the government does. Their rules on housing and taxes can affect how the market works.

Need more guidance navigating the housing market in 2024? Contact us today at Hello@TheHighlandCompanyRE.com! We’re here to help you make informed decisions and find the right home or investment opportunity for you.