Top questions on rates, home prices, and the possibility of a recession.


Are you feeling overwhelmed by the conflicting information about the real estate market in 2024? You're not alone. In today's fast-paced market, it's essential to have a clear understanding of what's happening to make informed decisions. I'm Tim Peirce from the Peirce Group at EXP Realty, and I'm here to address the top three questions on the minds of homebuyers and sellers.

1. Where are mortgage rates headed? Mortgage rates are a hot topic, especially for homebuyers. Affordability is a significant concern, and the low rates we've enjoyed have been a game-changer. Historically, there's a strong link between inflation and mortgage rates. With recent signs of inflation easing, the federal government has paused rate hikes. Economists are optimistic that 2024 might see even lower rates than expected, which is excellent news for the real estate market.

2. Where are home prices headed? Despite predictions of a housing crash, home prices have continued to rise, albeit at a slower pace. Experts believe this trend will persist, providing stability to the real estate market. A national panel of economists, real estate experts, and strategists anticipates further price increases in the coming years, as indicated in the Home Price Expectation Survey from Pulseonomics.

“There's less reason for concern and more reason for hope in today's real estate market.”


3. Are we headed for a recession? The recession debate has been ongoing, but recent data suggests a more positive outlook. The Wall Street Journal's polls of experts show that fewer now predict a recession. This shift is significant for the housing market, signaling a more optimistic future.

The data suggests that there's less reason for concern and more reason for hope in today's real estate market. Whether you're planning a move in the near or distant future, our team is here to help. Feel free to reach out with any questions or concerns about how the market impacts your real estate journey. We're dedicated to assisting you every step of the way. Don't hesitate to call or email us for expert guidance.