Real Estate in 2024

2024 has a lot in store for the real estate market. Normally I always freak out in an election year because usually they are really really quiet. But I think 2024 is not going to be a quiet year. I think there is a lot of pent up demand for sellers. There are also a lot of buyers out there who have not been able to find things that they want because there’s no inventory.

And I think there are people who have been hanging back because they are worried about rates and things like that. I think that’s thawed a bit and people have gotten used to more elevated rates than they were at their very low point. And I also think rates have softened somewhat.

So I suspect that what’s going to happen in 2024 is the market’s going to be pretty robust. I’m guessing there will be more inventory, but still not going to be high levels of inventory. This may mean that values will continue to escalate, especially in the city and Henrico and Chesterfield.

If you have questions about how selling your house or buying a new house (or both!) may go for you in 2024, reach out to me and let’s talk.