In our current housing market, we haven’t had much good news to share this year. Sales are slower, inventory is tight, it is a brutal market for buyers. However, some of the most recent economic reports show there is light at the end of the tunnel. Inflation was lower than expected at 4% at the end of May, down from 4.9% in April and a high of a 11% last year. While this is still above the FED’s goal of 2% this trend is expected to continue which means mortgage rates are expected to decrease later this year and into 2024. In fact, many experts in the industry, including the Mortgage Brokers Association, NAR, FreddieMac and Bank of America recently predicted mortgage interest rates near 5.5% by the end of 2023. Make sure you are the one to share the good news with your sphere of influence.
If we see this decrease materialize, we can expect a busy real estate market in 2024. The question is what are you doing now to prepare? How are you positioning yourself to capture more of the 2024 market? If you wait until the new year to ramp up your efforts you will be to late. In our last company meeting we covered who will be moving in 2024, where to find them and how to become the top agent in their mind. If you’re wondering how you should be getting ready send me an email.
Keep Elevating Our Industry!
https://youtu.be/kxsbKijLidw
David Veldkamp
Owner | RE/MAX GR
Mobile: 616.460.6123
Office: 616.957.0700
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