2024 Housing Predictions

Jan 17, 2024

Let’s focus on the brighter side of what the upcoming year might unfold in the realm of real estate! Here are some predictions for 2024:

Despite a minor dip in 2023, the real estate market is set to rebound with a potential 15% increase in sales volume! As interest rates trend downwards, we anticipate unlocking a surge in homebuying enthusiasm.

By the end of 2024, we might witness rates dipping below 6%, and who knows, possibly even inching closer to the 5% mark. An election year could add some extra momentum!

Single-family and condo housing starts are projected to rise, bringing a breath of fresh air to the construction landscape. Conversions of commercial properties will see a notable uptick.

Pricing diversity will be the name of the game, varying across regions and property types. New homes will command a premium, and the valuation will reflect the unique characteristics and conditions of each property.

From traditional to ultra-modern, a plethora of design styles will persist. However, in the realm of high-end real estate, a return to classic styling may take center stage, steering clear of fleeting trends.