EXPERT INSIGHTS ON WHAT’S TO COME
In recent months, the housing market has been subject to a myriad of headlines and news stories about a "correction.” It's crucial to understand that home prices in Hingham are not on the verge of a dramatic decline and in fact our median sales price year to date has increased. National data indicates that home prices are normalizing and will continue to appreciate, albeit at a more moderate pace. Here is a look at what the experts are predicting for the rest of 2024.
Real Estate Forecast “The market will move toward more of a balanced housing market in the second half of the year, but prospective home buyers will still face competition.” -Lisa Sturtevant, Chief Economist at Bright MLS
Mortgage Rates “…Mortgage rates will continue to ease in 2024 as inflation improves and Fed rate cuts get closer…a key factor in starting
to provide affordability relief to homebuyers.” -Danielle Hale, Chief Economist, Realtor.com
Election Impact “Usually, home sales are unchanged compared to a non- election year with the exception being November. In an election year, November is slower than normal.” —Ali Wolf, Chief Economist, Zonda
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