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We've seen interest rates increase, the volume of homes for sale decrease, and now 90% of metro areas in the U.S. saw an increase in home prices during the second quarter of 2024. What does this mean for the rest of the year? 📲 Check out this article to learn more and see what it could mean for you!

We've seen interest rates increase, the volume of homes for sale decrease, and now 90% of metro areas in the U.S. saw an increase in home prices during the second quarter of 2024. What does this mean for the rest of the year? 📲 Check out this article to learn more and see what it could mean for you!

We've seen interest rates increase, the volume of homes for sale decrease, and now 90% of metro areas in the U.S. saw an increase in home prices during the second quarter of 2024. What does this mean for the rest of the year? 📲 Check out this article to learn more and see what it could mean for you!

💸 Wondering where home prices are headed? 💸 So far this year, the national median home price has been fairly stable—thanks, in part, to an increase in inventory of smaller, less expensive homes. Analysts expect this trend to continue for the rest of the year, with prices rising gradually throughout the summer and fall. Are you thinking about buying or selling a home? Visit our blog to learn more about the current market. 🔗 https://lnkd.in/e3-B2XwW #realestate #realestateagent #realestateforecast #homeprices #housingmarket2024 #learnmore #currentmarket #oftheyear #sellahome #medianhomeprice #home #price #increase #analysts #closing

Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall. 2024 Home Price Forecasts: Then and Now There are two big factors keeping such strong upward pressure on home prices. The first is how few homes are for sale right now. According to Business Insider: “Low home inventory is a chronic problem in the US. This has generally kept home prices up . . .” A lack of housing inventory has been pushing prices up for a long time now – and that’s not expected to change dramatically this year. But what has changed a bit is mortgage rates. Late last year when most housing market experts were calling for home prices to rise only a little bit in 2024, mortgage rates were up and buyer demand was more moderate. Now that rates have come down from their peak last October, and with further declines expected over the course of the year, buyer demand has picked up. A Look Forward To Get Ahead of the Next Forecast Revisions That means they’ll continue to revise their projections as the housing market changes, just as they’ve always done. How those forecasts change next is anyone’s guess, but pay attention to mortgage rates. Basically, it’s all about supply and demand. With supply still so limited, anything that causes demand to go up will likely cause prices to go up, too. At first, experts believed home prices would only go up a little this year. But now, they've changed their minds and forecast prices will grow even more than they originally thought. DM me so you know what to expect with prices in our area. Nora De La Torre Residential Specialists Remax Partners 951-345-0705 #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters https://lnkd.in/gSqrAJQE

Pending Home Sales (signed contracts on existing homes) declined in May by 2.1%, with a year-over-year decrease of 6.6%. Compared to a year ago, all U.S. regions experienced a drop in pending home sales. NAR Chief Economist Lawrence Yun explained, “The first half of the year did not meet expectations regarding home sales but exceeded expectations related to home prices.” #homesales #realestate

Home sale returns are ticking up slightly. That's the word from a new report on the #housingmarket. Read the findings here: https://lnkd.in/guezC_Ff.

More on today's strong new home sales numbers. Although consumer demand has been dampened due to higher interest rates, builders continue to supply new homes to the market to lift inventory to make up for the low resale supply. Read more: https://lnkd.in/eia3Vmxi #realestate #economy

Good to read that new home sales numbers are strong.

https://zurl.co/Fmep 🏡 September saw a boost in home sales, but it might not last. Affordability is still the biggest hurdle for many buyers. With rising prices and interest rates, the market could face more challenges ahead. However, with inventory expected to rise, this will ease appreciation. 📉💰 #RealEstateTrends #HomeSales #HousingMarket #AffordabilityCrisis #MarketUpdate