2024 Housing Market Forecast: Positive Changes Ahead with Realtor Krista Klause

Planning to buy or sell a home in San Antonio in 2024? Stay informed with insights from your trusted realtor, Krista Klause. Here’s what experts predict for the upcoming year:

Mortgage Rates on the Decline 📉💵

Good news for buyers! Mortgage rates, recently near 8%, are expected to continue dropping, easing affordability concerns. As Mark Fleming and Jessica Lautz from NAR highlight, 2024 looks promising for those taking on mortgages.

Increasing Home Supply 🏠📈

More sellers are likely to enter the market, especially as mortgage rates stabilize around 6.5%, predicts Lisa Sturtevant. This means a greater selection for buyers and more opportunities for sellers.

Home Price Growth Moderating 💹🏡

Expect a more balanced market in terms of home prices. The HPES survey anticipates a growth of 5.9% in 2023, slowing down to around 2.4-2.7% in the following years. This is great for maintaining overall affordability.

A Bright Outlook for 2024 🌞🔮

Mike Simonsen of Altos Research foresees a positive year with slight home-price gains, easing inventory constraints, and an increase in transaction volume.

Bottom Line 📌

With experts optimistic about 2024, it's an ideal time to plan your move in the housing market. For the latest updates and personalized advice in San Antonio, partner with Krista Klause. 📞🌟