Where We Stand, 2024

Here's where the national market seems to stand, and an outlook for D-FW. Most experts anticipate this year being good/stable for buying and selling homes. 
Anticipations: Mortgage rates might decrease. *We know this, because of the rise in 2023. The FED will want to keep people at rates that they can roll with. So, a decrease, but not dramatic -- that's the expectation. Meaning: You can buy now and refinance later if they really do drop. But, don't skip out on a good deal because the rates will eventually change, and it's important to get the home price you want/need now!

Homes will go on the Market for Sale -- Again, a reaction to 2023 anticipates that folks will "loosen" the grip they've had (holding onto homes) and jobs and life changes will lead to more inventory. Still, we expect a slow change here, meaning: Do what you need to, when you need to. There probably won't be some flood of homes to choose from. 

With rate changes and more homes on the market, we anticipate More Buyers in 2024 -- People waited in 2023, but the need and desire is there. The market is bubbling with moves, and so we see folks taking the leap in this year. The challenge for buyers is also the reason that it is good to make a smart move if you can, and that reason is:

Home prices are stable, and our area is strong. While the first three points are all national trends, what we can anticipate for all the D-FW job and economy growth is that our home values are stable and growing. There won't be huge price drops this year. And while that makes paying large amounts for homes difficult, the track record shows these investments are worth it over time. Since the pandemic, D-FW has been a leader in economy and job growth, and so the livability and desire for our area remains as strong as ever. 
Your home investments are good real estate investments! 

We have a hopeful year ahead! So, let's make a move!


References:
https://www.brightmls.com/article/2024-national-housing-market-outlook
https://www.recenter.tamu.edu/articles/video/Texas-Housing-Market