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Redfin said buyers can afford a more expensive home since mortgage rates have dropped from nearly 8% in October.
A growing number of Americans plan to age in place rather than move to an assisted living or senior living facility, which will leave an inventory shortage.
The chamber also said the housing market will begin to stabilize to a new normal, and home prices will no longer spike.
Some novel ideas to generate leads include integrating QR codes and chatbots into social media to provide potential buyers and sellers with immediate responses.
NAR is projecting a 13% increase in existing-home sales in 2024 (from 2023) to 4.62 million and a 15.8% increase in 2025 (from 2024) to 5.35 million and said interest rates will be cut four times.
Florida is outperforming U.S. in job and income growth and population migration, two economic experts said.
Sales on new construction single-family homes increased 8% in December and 4.4% year over year across the U.S. In the South, new home sales increased by 5.2%.
Proptech (real estate technology and innovation) investments and business opportunities will grow in 2024, and there’s plenty of room for entrepreneurs to take part.
Fannie Mae said a $2,500 credit will help very low-income borrowers with down payment and closing costs.
