Absolutely such a good point. Assisted financing and rate buy downs have been a big way for people to get slightly lower rates and that's a huge advantage over buying pre-existing homes these days
It's really tough to say; the Fed has made it clear they plan to reduce rates in 2024, but how much the housing market will speed up or slow down is a big question. Prices are still high and inventory is still low compared to demand for housing, and we are still seeing bidding wars even with mortgage rates in the 7-8% range. Now that we're in January and past the holidays, we've noticed things picking up pace here in STL which is what usually happens right after the new year, but I really don't know how this year's spring and summer market will compare to 2023.
Happy New Year! Great video! 🌸🥂
Thank you! Happy New Year to you as well! 🎉😀
Developer/builder assisted financing has had a HUGE influence!
Absolutely such a good point. Assisted financing and rate buy downs have been a big way for people to get slightly lower rates and that's a huge advantage over buying pre-existing homes these days
what do we think is gonna happen in 2024 for the housing market ?
It's really tough to say; the Fed has made it clear they plan to reduce rates in 2024, but how much the housing market will speed up or slow down is a big question. Prices are still high and inventory is still low compared to demand for housing, and we are still seeing bidding wars even with mortgage rates in the 7-8% range. Now that we're in January and past the holidays, we've noticed things picking up pace here in STL which is what usually happens right after the new year, but I really don't know how this year's spring and summer market will compare to 2023.
yeah whats interesting is if the stock market continues to climb, what will happen to real estate regardless of rates.@@LivingStLouis