2024 Spring Housing Workshops
The Effects of Lower Interest Rates on Home Sales
While elevated mortgage interest rates were an obstacle for home sales last year, it appears that 2024 will be a much different story. Despite a modest uptick in inflation in December, the Federal Reserve Bank has signaled that interest rates are likely to decline this year, which is good news for the housing market. The interest rate for a 30-year fixed-rate mortgage has fallen by more than a full percentage point, with hopes for further declines as the year unfolds. The anticipated effects of lower interest rates include improved homeownership affordability along with an increase in both the number of homes on the market and sales transactions in 2024.
Join us for this essential briefing on what to expect for the New Jersey Housing Market in 2024 so you can counsel your clients and maximize your success. Presented by Jeffrey Otteau, this year’s Spring Schedule includes 1 live event, which is our first since 2020, and 2 additional online briefings.
Here is a sampling of the essential information you’ll hear about:
- Housing Report: While the pace home sales declined by 20% in 2023, there’s good reason to expect a rebound this year as lower interest rates help to close the affordability gap for homebuyers. This comprehensive roundup will examine how the housing market is performing all the way down to the submarket level, across all price ranges, to provide you with the latest trends for your local market.
- 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 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 this declining interest rate environment.
- Market Forecast: How low will interest rates fall? Will home prices keep rising or are we heading into a correction phase with falling prices? Is 2024 the Right Time buy or sell a home? We will provide you with a roadmap for what to expect in 2024 with our market forecast for the New Jersey housing market.