Meltdown vs. Boom: How Will the 2024 Real Estate Market End?
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Lets do this, the year is half over...what does the second half of 2024 hold in surprise and what should you expect for 2025? Buckle up as we dive into the latest trends, facts, and predictions to help you stay ahead of the curve and maximize your success.
1. Current Market Sentiment
Fact: Would-be homebuyers are holding their breath for potential rate cuts by the Fed. Transaction volumes for new and existing homes remain low this year, but the silver lining is the rising inventory, which gives buyers more negotiating power.
Prediction: If the Fed cuts rates, we could see a surge in buyer activity and an uptick in transaction volumes.
Bonus Tip: This is fantastic news for buyers! Expect fewer competing offers, a lower likelihood of going over list price, and no more stress over guaranteeing the appraisal gap. Leverage this to your clients' advantage!
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