With all the ups and downs of the housing market, what is the latest buzz on the housing market?
Hi, I’m Tanja Odzak, eXp Realty, and I help people sell and buy homes here in the East Bay.
As we move into 2024, let’s take a look at what the National Association of Realtors is saying about the housing market. According to Lawrence Yun, chief economist for NAR, interest rates most likely peaked in 2023 and he predicts that rates will drop to between 6-7% by the Spring buying season.
This is great news as more sellers will enter the market with the higher buyer demand, and will thus help ease the shortage of inventory. Yun predicts new construction will also help with the inventory shortage as builders are back on their feet with new home sales up 5% year to date. Also, nationally, home prices are expected to rise 3-4% this year keeping sellers happy to list their homes and cash in on their equity. Experts also predict buyers will continue to purchase multigenerational housing to offset affordability costs. This is a trend we saw in 2023, and it’s expected to continue into 2024.
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 an informed and strategic decision on 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?