Happy New Year!  2024 promises to be an exciting year.  The market is still moving along quite well despite interest rates being at all time highs.

I would like to ask you ask you a question.  Did prices go up or down last year?  You're right!  They did!  Home prices went down at the beginning of the year and then back up as the year went on.  Overall Sacramento was up about five percent year over year. 

For my entire career when rates rise, real estate prices go down but this time, the higher the rate went up, the higher the prices went up.  This is in part because existing owners did not want to sell their homes leaving only new home builders to fill the gap of our housing needs.

This is a complex market to say the least but the laws of supply and demand never change.  This time of year is naturally the lowest “supply” time of year yet many people are still looking to buy.

Most experts expect interest rates to stay the same or decline this coming year.  That would definitely help the housing market.  A win for buyers and sellers.  For sellers, more buyers can afford to enter the market and afford more house.  And for buyers, lowering interest rates make homes more affordable and/or increase their purchasing power.

If you are thinking about purchasing a home this year, call me and find out what it takes to get a good deal and financing strategy.  And if you are thinking of selling this year, give me a call and lets talk strategy.  There are lots of things you can do to get ready to make your house command top dollar.  I would love to talk to you and catch up.  So give me a call!

Sincerely,

Ed Kittle  -  Broker