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Here’s what you can expect from the 2024 housing market

Housing Wire

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average.

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DataDigest: Breaking down housing economists’ 2024 forecasts

Housing Wire

Home starts forecasts, meanwhile, don’t offer much certainty about the pace of construction next year. Among all the experts’ forecasts for 2024, there is no number more tightly watched than mortgage rates, as those rates will undoubtedly impact sales, prices and construction as well. million to 5.07

Inventory 488
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Buyers are being picky — here’s how you can navigate it as a real estate agent

Housing Wire

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

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The homebuilding space consolidates after strong results in 2023

Housing Wire

The persistent scarcity of existing homes drove buyers toward newly built properties, allowing builders to maintain double-digit margins. New construction accounted for approximately 30% of active for-sale housing inventory, doubling the usual figures for a standard year. The acquisition is set to close in the first half of 2024.

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As a ‘higher-for-longer’ rate scenario unfolds, how is the mortgage industry adapting?

Housing Wire

If this scenario unfolds, analysts and executives will be ready to update their baseline expectations for 2024, including fewer refinance and purchase loans than previously forecast. He added that it was high enough for him to remove one of the rate cuts he expected in 2024. in second-quarter 2024.

Mortgage 475
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When will housing inventory recover?

Housing Wire

More inventory is both the consequence and cause of a more balanced housing market: More choice for home shoppers limits the number of buyers bidding on each home, and the added competition lights a competitive fire under sellers and their listing agents to make their homes shine, including by pricing it competitively.

Inventory 417
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Flyhomes looks to grow via wholesale channel

Housing Wire

“To my knowledge, we are the only ones who set this up as a traditional wholesale channel, which makes it easier for these third parties to add it as a product in the suite that they already have access to — all of their agency loans, government loans, jumbo, non-QM, construction. This is just one more arrow in their quiver.”