APRIL 2024
REAL ESTATE MARKET UPDATE
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Buyers Are Blowing Up The March Real Estate Market
The real estate market is in a vibrant stage, with intense buyer activity likened to a feeding frenzy. Despite higher mortgage rates, the demand for homes remains solid. This strong demand is driving consistent sales growth, signalling a bounce back from last year's low points.
Homes entering the market are being snapped up quickly, indicating a healthy sales velocity. Contrary to some predictions of a downturn, experts forecast a rise in home prices. The new construction segment is thriving, contributing positively to the market, particularly in certain areas.
The market's overall health is evident, marked by a harmonious balance of eager buyers and the homes available to them. Analysts remain optimistic about the market's trajectory, expecting continued growth. In summary, the real estate market is robust, with active participation from buyers and a steady influx of new homes, though not enough to saturate the demand. This dynamic is expected to sustain the market's upward trend.
The real estate market is in a vibrant stage, with intense buyer activity likened to a feeding frenzy. Despite higher mortgage rates, the demand for homes remains solid. This strong demand is driving consistent sales growth, signalling a bounce back from last year's low points.
Homes entering the market are being snapped up quickly, indicating a healthy sales velocity. Contrary to some predictions of a downturn, experts forecast a rise in home prices. The new construction segment is thriving, contributing positively to the market, particularly in certain areas.
The market's overall health is evident, marked by a harmonious balance of eager buyers and the homes available to them. Analysts remain optimistic about the market's trajectory, expecting continued growth. In summary, the real estate market is robust, with active participation from buyers and a steady influx of new homes, though not enough to saturate the demand. This dynamic is expected to sustain the market's upward trend.
NWMLS Market Snapshot - March 2024
George Moorhead of Bentley Properties talks about Inflations Causing Rates To Go Up and Is The Real Estate Market Crashing? Plus, Top 5 Things You Need To Look For When Getting Mortgage Rates
