Snow shoeing to Todd Lake
Happy Snow day! My favorite way to embrace winter if I'm not staying inside to read for hours is to ski and snowshoe at Mt. Bachelor, Virginia Meisner & the Deschutes River Trail (so far... and it's only January!). Let's make some plans!
How will the 2024 real estate market compare to 2023? After reflecting on last summer's interest rates peaking at almost 8% and threatening to dash seller and buyer dreams, Jonathan Miller, president and CEO of Miller Samuel Real Estate Appraisers and Consultants , called 2023 "the year of disappointment," but he's calling 2024 "the ‘year of incremental change.’” I agree with the CNN Business article that 2024 will bring gradual improvements in home sales, prices and mortgage rates, but there will be few sudden moves.
New listings are slightly ahead of last year, signaling a trend of increased inventory into 2024. Sales are on the rise, and we're looking at a 15% increase in home sales for 2024. Mortgage rates are in the 6% range, but it's critical to also have a relationship with your lender to take advantage of the best program for you, including discounts for doctor loans, VA, first time homebuyers, investment homes occupied by family members (your college students or parents for example), and more. Time to get creative in the housing market!
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