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Happy New Year!
I hope that the first few weeks of 2024 have been very good to you and yours! Despite this frigid weather, January always sets my mind spinning on the outlook for the Spring Real Estate Market, which in the past few years has seen a very healthy start right from the get-go in January. However, after careful consideration of market data and trends, I am thinking that this Spring Market may start off a bit differently.
This January, we are seeing hesitation. We do not see the push to list new inventory, to be the first on the market for hungry buyers, like we have within the past three years. But, no doubt, rates have dropped and there are still plenty of hungry buyers out there, who didn’t pull the trigger in 2023 with a few negatives coming at them like high rates, inflated home prices and low inventory.
I think that we will see a more traditional, pre-Covid, Spring Market with new inventory beginning to trickle into it in mid-February, and gradually increasing as we approach April. Likely, we will see a significant increase in inventory in May, through July. Rates are forecasted to remain low, and I think that these factors combined will make for a hot real estate market this summer, (pun intended)!
This will be a great time to buy and sell, and I am ready to get in on all of that with you! It will be a little crazy, but I started working in Real Estate in the heart of Covid-crazy, have expertly navigated the ups and downs of the past four years, and can easily walk you through it all!
Contrarily, I do think there will be a significant shift as the end of summer approaches. The election will loom large with uncertainty, instilling fear in many. I think that the market will cool off drastically, August through November. That being said, a time like that could be one where great real estate deals are had, as well, and I know how to help you find them!
Understanding where the opportunities are in 2024 will be the key to success in your Real Estate Endeavors! As always, do not hesitate to reach out with any questions, ideas, plans… I want to talk to you about them all!
Contrarily, I do think there will be a significant shift as the end of summer approaches. The election will loom large with uncertainty, instilling fear in many. I think that the market will cool off drastically, August through November. That being said, a time like that could be one where great real estate deals are had, as well, and I know how to help you find them!
Understanding where the opportunities are in 2024 will be the key to success in your Real Estate Endeavors! As always, do not hesitate to reach out with any questions, ideas, plans… I want to talk to you about them all!
All my best,
Kelli
