Buyer & Seller Series
As we step into 2024, the Sacramento real estate landscape is poised for significant changes, and All City Homes is here to guide you through these evolving dynamics. Our commitment to your real estate needs remains steadfast, integrating safety protocols to ensure the well-being of our community.
The Big Story: A Shift in the Market
2024 is shaping up to be markedly different from the previous year. The Federal Reserve's indication of an end to rate hikes, coupled with the financial market's anticipation of rate cuts, suggests a decrease in financing costs and a potential increase in home sales. Despite high mortgage rates driving low home sales in 2023, resulting in a 15% year-over-year drop, the growing inventory sets a promising stage for 2024.
Sacramento's 2024 Market: A Spicy Outlook
While the market may not replicate the fervor of 2021, it's gearing up for some heat. With mortgage rates expected to decline, we foresee a resurgence of demand, especially in the spring and summer months. This anticipated shift is crucial for both buyers and sellers to understand and prepare for.
The Local Lowdown: Sacramento's Unique Market
In Sacramento, single-family home prices have seen a slight decrease, aligning with seasonal norms, while condo prices have risen. The inventory trend continues to be stagnant, potentially hitting record lows in the winter. However, the Months of Supply Inventory (MSI) suggests a gradual shift towards a more balanced market, still slightly favoring sellers.
What This Means for You
Whether you're looking to buy or sell in Sacramento, understanding these market dynamics is key. For sellers, the current landscape presents an opportunity to capitalize on the still favorable conditions. Buyers, on the other hand, might find more negotiating power and opportunities as the market shifts.
All City Homes: Your Guide Through the Market
At All City Homes, we're not just real estate agents; we're market analysts, trend spotters, and your partners in navigating the complex real estate landscape. Our insights are tailored to help you make informed decisions, whether you're buying your first home or selling a cherished property.
Stay tuned to our blog for more updates and in-depth analysis. Together, let's make your real estate journey in Sacramento a successful and rewarding experience.
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Allow All City Homes to manage every aspect of your home buying and selling experiences. Our agents ensure transparency, empowerment, and assurance throughout the entirety of your real estate journey, supporting you at each stage.