Happy New Year to all. No, I didn’t stay awake and ring the new year in. Sleep is too precious, and I fight for every Z I can get.
With that said I’ll make a few predictions for 2024.
- Mortgage interest rates will go down.
- Mortgage interest rates will be too high.
- Home prices will continue to rise.
- There will be fewer home sales than there were in 2023. (This prediction is for the Twin Cities Metro area only)
- There will be more lawsuits against the National Association of Realtors and they will lose most if not all of them.
- We will see a new organization emerge from the ashes that the National Association of Realtors will be by November 2024.
- The new organization that replaces NAR will be run by men but they will be younger and more diverse.
If you have a house to sell in 2024 you can sell it. If you would like to buy a house in 2024 there will be fewer to choose from and they will be expensive. Please take advantage of downpayment assistance programs.
If you have not purchased a home in the last three years ask your lender about first-time home buyer programs. If the lender can not help you with that choose another.
Also, home buyers should get their paperwork in order and file a tax return for 2023 early in the year.
