Season 1, Episode 7 Recap & Prognostications
Rising interest rates and low supply have been competing factors balancing our real estate market. As we wrap up the calendar year, I sit down with Windermere Real Estate’s own Chief Economist Matthew Gardner to get a sneak peak of his top five predictions for 2024.
Local Real Estate Topics Addressed
What were the big takeaways from this year’s residential real estate market?
How do the current interest rates fit historically and how might they impact home prices?
What is the role of new development in this low inventory environment and what can local jurisdictions do to help?
What leverage do buyers of new construction have when purchasing from builders?
What will interest rates look like throughout 2024?
Will home prices increase or decrease in the coming year and how will this impact affordability?
The local real estate market in Bellevue and Kirkland is seasonal. While some might assume summer is the best time to sell, the numbers show that Q1 is often the most advantageous for sellers with last year’s buyers who missed out rolling into the new year and a new pool of buyers jumping in after the holidays.
If you’re interested in hearing how Matthew’s economic forecast relates to your home, you can always reach out for my local market insight and Windermere resources at my disposal. Now is a great time to strategize for an early 2024 listing.