Market Update with Matthew Gardner | EASTSIDE ELEVATED

Season 1, Episode 7 Recap & Prognostications

2024 Real Estate Outlook: Expert Predictions from Matthew Gardner

Rising interest rates and low housing supply continue to shape our real estate market as we approach the end of the year. To gain insights into what lies ahead, I sat down with Windermere Real Estate’s Chief Economist, Matthew Gardner, to discuss his top five predictions for 2024.

Key Local Real Estate Topics Covered

• What were the major takeaways from this year’s residential real estate market?

• How do current interest rates compare historically, and what effect might they have on home prices?

• What role does new development play in today’s low inventory environment, and how can local jurisdictions support this?

• What leverage do buyers of new construction hold when purchasing from builders?

• What are the projected interest rate trends throughout 2024?

• Will home prices rise or fall next year, and how will this impact affordability?

Seasonal Trends in Bellevue and Kirkland

The local real estate market in Bellevue and Kirkland is seasonal. While many assume summer is the prime time to sell, data shows that the first quarter often offers the best opportunities for sellers—especially with last year’s buyers who missed out and new buyers jumping in after the holidays.

Plan Your 2024 Real Estate Strategy

If you’re curious about how Matthew’s economic forecast could influence your home or are considering a strategic move, I’m here to provide local market insights and Windermere resources. Now is an excellent time to reach out today to start planning your early 2024 listing.

About Matthew Gardner

As Chief Economist for Windermere Real Estate, Matthew Gardner analyzes economic data and its impact on the local and national real estate markets. With over 28 years of experience in the U.S. and U.K., he is the former Principal of Gardner Economics. Matthew also chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington, sits on the Urban Land Institute's Technical Assistance Panel, and serves on the Advisory Board for the Runstad Center for Real Estate Studies at UW, where he lectures on real estate forecasting.

If you’d like to discuss what the 2024 market might mean for you, don’t hesitate to reach out!