As we say goodbye to the volatile housing market of 2023, what are the experts predicting for 2024?
Hi, I’m Tanja Odzak, with eXp Realty, and I help people sell and buy homes here in the East Bay.
Happy New Year!! Let’s take a look at what the Real Estate Experts are saying!
Prediction 1: After being sidelined for most of 2023 due to higher mortgage rates, buyers will reenter the market as all indicators point to interest rates coming down and thereby making the market more affordable. Does this mean we will see interest rates fall back down to the low rates of 2020? probably not, but we will most likely not see the high 8% rates we saw last year.
Prediction 2: Experts are also predicting we will see more inventory in 2024 mainly due to sellers having to sell and not holding off any longer- waiting for things to change. This will create more listings on the market for buyers and create more demand.
Prediction 3: We are also expected to see more buyers purchasing fixer uppers rather than turn key properties. This is a new trend that proves more attractive to buyers rather than turn key properties that need no updating.
Of course, these are all predictions and not for certain. We all know the real estate market is volatile and we do not have a crystal ball.
I’m an expert in our East Bay market… and if you’d like more information about the housing market, call me! and let’s just talk about it. I’d love to help you make your next real estate move, whether that’s selling or buying or both!
And ask me about my home selling plans.. I took the pain out of negotiating with a Realtor and made it SUPER simple. Really! Choose Silver, Gold, or Platinum- Pick your Plan and Pick your Price. Terms do apply. I’m Tanja and I sell homes. Let’s get you going, Call me today!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?