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First look at the 2024 market

February 01, 2024

Dr Lawrencee Yun,  the cheif economist for the National Assn of Realtors, expects a few changes in the market for this year.

First he expects there will be more sellers coming on to the market.  He said that sellers have been able to hold on for a few years and not go on the market, but life continues to happen around them.  Babies are born, divorces happen, jobs get changed and the desire for making naecessary changes still exist.  Sometimes people realize that they jut cant wait any longer to sell.

Interest rates have ben declining.  He feels that interest rates have peaked, but he cautions that we should not expect to see anything near 3% again.

He notes that rents are softening due to increased apartment construction, making the rates for lending more attractive.

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