2024 FALL HOUSING WORKSHOP
Ready-Set-Go! Are You Prepared for Lower Interest Rates?
The New Jersey Housing Market is poised for a sharp increase in sales volume soon. While home prices have continued to drift higher due to low inventory, the number of homes being sold has declined by about half as lingering inflation is keeping mortgage interest rates elevated and affordability low. This is about to change soon however amid signs of a cooler economy which will lower inflation and pave the way for lower interest rates. Then, once that happens, the housing market will get back up to speed with a sharp increase in both purchase transactions and the number of homes on the market. All of this means more prosperous times ahead for the real estate industry.
Jeffrey Otteau has prepared this essential briefing to explain the latest trends affecting the New Jersey housing market and what to expect as we head into winter and turn the corner into 2025. Join us on this guided tour as he provides his forecast of where the market is heading so you can prepare your clients for what lies ahead and maximize your success!
Here is a sampling of the essential information you’ll hear about:
- Housing Report: While the pace of home sales has slowed dramatically, homes continue to sell quickly and for soaring prices. Join us for a review of the latest market trends all the way down to the submarket level. This comprehensive roundup will examine how the housing market is performing by providing you with our updated trends analysis.
- Elevated Interest Rates: The Federal Reserve Bank’s attempts to cool the economy by raising interest rates appears to finally be working with expectations that both inflation and interest rates will begin to decline soon. This segment will explore the relationship between interest rates and home sales volume the economy and provide a roadmap of what to expect next.
- Housing Prices: ‘How much is my home worth’ is the most asked question in real estate, which is why understanding where prices are today, and where they will be in the future, is something you absolutely need to know. Find out the latest home price trends down to the submarket level with our exclusive town-by-town ‘Report Cards.’
- Forward CMA Guidance: Understanding how to prepare an accurate CMA is the single most valuable tool for Realtors® to achieve marketing success. This segment will provide you with updated guidance on CMA preparation so you can sharpen your pencil and prepare a more accurate marketing plan in a challenging environment.
- Market Forecast: How soon will interest begin to fall? Will the number of homes on the market remain low or increase? Will home prices continue to rise or is a correction phase with falling prices looming? We will provide you with answers to these trending topics as well as what to expect in the coming months and next year for the New Jersey housing market.
