What’s Your Next Move in the 2024 Market?
Rick Brock | January 23, 2024
As we start the new year, things in the market are looking up for both buyers and sellers! There are more homes on the market, and we expect to see inventory continue to increase. The positive momentum continues as we see mortgage rates drop, with 15-year mortgage rates sitting below 6%.
With all of this said, now is the time to seriously think about getting back into the market, whether you are buying or selling.
Good News Buyers!
Purchasing a home is more accessible with lower mortgage rates. Adding to the optimism, the Federal Reserve left its benchmark interest rate unchanged and said three rate cuts are likely in 2024.
BONUS: Wichita is one of the top 3 most affordable cities in the U.S. according to a study by Forbes. In addition to being affordable, we are a top city for young professionals and ranked top ten in the Midwest for downtown redevelopment. Wichita is on the rise and getting stronger while still maintaining accessibility.
The Market is Ready for Sellers Like You!
Get the best of both worlds with rates dropping and inventory on the rise. Chief economist for the National Association of REALTORS®, Lawrence Yun, forecasts that 4.71 million existing homes will be sold in 2024, which is an increase of about 13.5% from last year.
Buyers are getting back into the search process, and what better time to sell than the start of the new year? Be the first to the market while prices are holding strong!
What’s Next?
If you are ready to achieve your real estate goals, our real estate advisors are ready to help make these goals a reality – and fast!
Not ready, but have questions? We are here for you too! We would be happy to create a custom solution for you to use this market to your advantage.
