
What are the latest housing stats?
๐ What Are the Latest Housing Stats?
๐ค Wondering about the latest housing stats? As we move into the second half of 2024, the real estate market is showing shifts in mortgage rates, home prices, and inventoryโall of which impact both buyers and sellers. Staying informed is the key to making smart moves in todayโs market.
๐ฐ Mortgage Rates: Shifting but Stabilizing
After a period of fluctuation, mortgage rates have begun to stabilize, giving buyers a little more confidence. Even small changes in rates can significantly affect monthly payments and affordability, so this trend is worth watching closely.
๐ Home Prices: Growth Slowing but Still Strong
Home values are still up compared to last year, but growth is slowing to a more moderate pace. For sellers, this means pricing your home competitively is crucial to attracting strong offers. For buyers, it signals that there may be more opportunities to negotiate than in previous years.
๐ก Inventory: Rising but Still Below Average
Good newsโmore homes are hitting the market. This increase in inventory gives buyers more choices and eases some of the intense competition weโve seen in past years. However, supply is still below long-term averages, keeping demand steady.
๐ฏ What This Means for You
Buyers: With more inventory and stable rates, now is a good time to re-enter the market. Be prepared with pre-approval and a clear list of must-haves.
Sellers: Prices remain strong, and motivated buyers are still active. Strategic pricing and professional marketing will help your home stand out.
Investors: With rental demand high and price growth slowing, this could be a prime window for new opportunities.
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๐ฉโ๐ผ Stay Informed, Stay Ahead
The housing market is always evolving, but with the right insights, you can make confident decisions.
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