REALTORS® share update on spring home buying and selling season, details on proposed settlement agreement, outlook for second half of 2024 and first quarter metro home prices.
Higher mortgage rates, limited housing inventory and competition for the few houses on the market are some of the many reasons sellers and buyers should work with a Realtor to find the right home and negotiate the terms of sale.
In fact, according to the National Association of Realtors, rates are likely to rise soon, potentially impacting Spring home buyers. The median existing-home sales price elevated 5.7% from February 2023 to $384,500 – the eighth consecutive month of year-over-year price gains.