BERKSHIRE HATHAWAY HOME SERVICES COLORADO PROPERTIES Price Change! OLATHE $369,990 180 6000 Read 19,17 Acres 1 Spectacular Views Kree Christie8970.276 3155 MONTROSE $629.000 2018 Otter Pond Circle 3 Bed12Bath12,246 sq.ft Donna Harville Justin 970.216.8316 THE LATEST 2024 HOUSING MARKET FORECAST The new years night around the comer, and you might be wondering i 2024 will be the right time to buy or sell a home if you want to make the most informed decision possible, it's important to know what the experts have to say about what's ahead for the housing market Spoler alert the projections may be better than you think Here's why EXPERTS FORECAST ONGOING HOME PRICE APPRECIATION Taking a look at the latest home price forecasts from Fannie Mae the Mortgage Bankers Association (MBA) and the National Association of Realtors (NAR). On average, experts forecast prices will end this year up about 28% overalt and increase by another 155 by the end of 2024 That's big news, considering so many people thought prices would crash this year. The truth is prices didn't come tumbing way down in 2023, and that's because there just weren't enough homes for sax ored to the number of people wanted or needed to buy them, and that inventory crunch is still very real This is the general rule of supply and demand and it continues to put upward pressure on prices as we move into the new year bhhsco.com Looking forward experts project home prices will continue to ree next year, but not quite as much as they did this year. Even though the expected rise in 2024 isn't as big as in 2005, it's important to understand home price appreciation is cumulative in simple term CONNECTING MOUNTAIN LOVERS WITH MOUNTAIN HOMES IN COLORADO SINCE 1971 MONTROSE $169,000 TBD Buckhorn Road (Tract 2) 562 Acres with fabulous views Don Bailey 970.209.8257 Cimarron Mountain Views! MONTROSE $470.000 8356650 Road 3 Bed 12 Bech-1820-sq Donna Harvite Justin 170 236.8316 BAS this means if the experts are right according to the national average after your home's value goes up by 28% this year, it should go up by another 1576 next year. That ongoing price growth is a big part of why owning a home can be a smart decision in the long run bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond! PROJECTIONS SHOW SALES SHOULD INCREASE SLIGHTLY NEXT YEAR While 2025 hasn't seen a lot of home sales relative to more normal years in the housing market experts are forecasting a bit more activity next year While expectations in 2024 are for just a slight upickin total sales improved activity next year is a good thing for the housing market and for buyers and seer ke you. As people continue to move that opens up options for nopeful buyers who are looking for a home So what do these forecasts show? The housing market is expected to be more active in 2024. That may be in part because there will always be people who need to move People will get new jobs nave children get married or divorced these and other major fe changes lead people to move regardless of housing market conditions. That will remain true next year, and for years to come. And if mortgage rates come down we'll see even more activity in the housing market BOTTOM LINE If you're thinking about buying or seeing its mportant to know what the experts are forecasting for the future of the housing market. When you're in the know about what's ahead you can make the most informed decision possible. Let's chat about the latest forecasts together. and crafta plan for your next move Call one of our trusted real estate brokers Trena Unrein, Brian Unrein, Autumn Barrett, Don Bailey Jeff Keetfuss, Kree Christie, Linda Stell, Makaya Cervone, Michael Scott Dosch, Heidi Lutz, Mend Sepahiand Donna Justin BERKSHIRE HATHAWAY HOME SERVICES COLORADO PROPERTIES Price Change ! OLATHE $ 369,990 180 6000 Read 19,17 Acres 1 Spectacular Views Kree Christie8970.276 3155 MONTROSE $ 629.000 2018 Otter Pond Circle 3 Bed12Bath12,246 sq.ft Donna Harville Justin 970.216.8316 THE LATEST 2024 HOUSING MARKET FORECAST The new years night around the comer , and you might be wondering i 2024 will be the right time to buy or sell a home if you want to make the most informed decision possible , it's important to know what the experts have to say about what's ahead for the housing market Spoler alert the projections may be better than you think Here's why EXPERTS FORECAST ONGOING HOME PRICE APPRECIATION Taking a look at the latest home price forecasts from Fannie Mae the Mortgage Bankers Association ( MBA ) and the National Association of Realtors ( NAR ) . On average , experts forecast prices will end this year up about 28 % overalt and increase by another 155 by the end of 2024 That's big news , considering so many people thought prices would crash this year . The truth is prices didn't come tumbing way down in 2023 , and that's because there just weren't enough homes for sax ored to the number of people wanted or needed to buy them , and that inventory crunch is still very real This is the general rule of supply and demand and it continues to put upward pressure on prices as we move into the new year bhhsco.com Looking forward experts project home prices will continue to ree next year , but not quite as much as they did this year . Even though the expected rise in 2024 isn't as big as in 2005 , it's important to understand home price appreciation is cumulative in simple term CONNECTING MOUNTAIN LOVERS WITH MOUNTAIN HOMES IN COLORADO SINCE 1971 MONTROSE $ 169,000 TBD Buckhorn Road ( Tract 2 ) 562 Acres with fabulous views Don Bailey 970.209.8257 Cimarron Mountain Views ! MONTROSE $ 470.000 8356650 Road 3 Bed 12 Bech - 1820 - sq Donna Harvite Justin 170 236.8316 BAS this means if the experts are right according to the national average after your home's value goes up by 28 % this year , it should go up by another 1576 next year . That ongoing price growth is a big part of why owning a home can be a smart decision in the long run bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond ! PROJECTIONS SHOW SALES SHOULD INCREASE SLIGHTLY NEXT YEAR While 2025 hasn't seen a lot of home sales relative to more normal years in the housing market experts are forecasting a bit more activity next year While expectations in 2024 are for just a slight upickin total sales improved activity next year is a good thing for the housing market and for buyers and seer ke you . As people continue to move that opens up options for nopeful buyers who are looking for a home So what do these forecasts show ? The housing market is expected to be more active in 2024. That may be in part because there will always be people who need to move People will get new jobs nave children get married or divorced these and other major fe changes lead people to move regardless of housing market conditions . That will remain true next year , and for years to come . And if mortgage rates come down we'll see even more activity in the housing market BOTTOM LINE If you're thinking about buying or seeing its mportant to know what the experts are forecasting for the future of the housing market . When you're in the know about what's ahead you can make the most informed decision possible . Let's chat about the latest forecasts together . and crafta plan for your next move Call one of our trusted real estate brokers Trena Unrein , Brian Unrein , Autumn Barrett , Don Bailey Jeff Keetfuss , Kree Christie , Linda Stell , Makaya Cervone , Michael Scott Dosch , Heidi Lutz , Mend Sepahiand Donna Justin