Скачать или смотреть National Housing Market Update January 2024

As we embark on the journey into the new year, both homebuyers and sellers are undoubtedly curious about the current state of the National Housing Market. Hi, I'm Dave with The David Marshall Team of eXp Realty and I'm thrilled to provide you with a comprehensive overview, zeroing in on four pivotal metrics:

*1. Surge in Mortgage Applications:*
In recent weeks, there has been a noteworthy surge of 3% in mortgage applications, marking the highest levels in recent times. A contributing factor to this surge is a recent dip in interest rates. This decline has successfully lured in buyers who were previously hesitating, encouraging them to take the plunge into the real estate market.

*2. Inflation Report and Interest Rates:*
A promising development on the economic front is the easing of inflation, as indicated by a recent report. This is significant as it suggests that the Federal Reserve is unlikely to raise interest rates. In fact, there's speculation that rate cuts might happen earlier than initially anticipated in the coming year. This bodes well for both buyers and sellers, fostering a more favorable lending environment.

*3. Sellers Responding to Rising Demand:*
The market dynamics reflect the ripple effect of these positive factors. New listings have seen a substantial uptick of 3% compared to the previous year. This surge represents the most significant rise in listings observed over the past two years. What's fueling this surge? Sellers are acutely aware of the growing demand from homebuyers and are eager to capitalize on this opportune moment to showcase their properties.

*4. Optimal Timing for Buyers and Sellers:*
Buyers, who have patiently awaited a reprieve in interest rates, are now seizing the opportunity to make their moves in the market. In essence, it's a great time for both buyers and sellers to actively participate in real estate transactions.

This is Dave with The David Marshall Team of eXp Realty. If you're craving more detailed insights into housing data specific to your local market, then please contact us for our client based approach to service excellence.

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David Marshall
The David Marshall Team | eXp Realty
(207) 409-6617
[email protected]
davidmarshallteam.com