Robin Milton

I trust this letter finds you in good health and high spirits as we embark on the exciting journey that is the year 2024. As we step into the first quarter, I wanted to take a moment to share some uplifting insights into the current real estate market and the promising landscape that lies ahead.

The year 2023 was indeed eventful, marked by resilience, adaptability, and growth in the real estate sector. The good news continues into 2024, as we witness a market that remains dynamic and full of opportunities for both buyers and sellers alike.

For those considering selling their homes, rest assured that the demand remains robust. With a limited inventory, sellers are likely to benefit from competitive offers and quicker transactions. The process of selling your home is one that we will navigate together, ensuring a smooth and efficient experience from listing to closing.

Buyers, too, will find plenty of reasons to be optimistic. Despite some fluctuations, interest rates are expected to remain favorable, making homeownership an attainable goal. I am committed to helping you find your dream home, leveraging my expertise to guide you through every step of the buying process.

As we delve into the predictions for the economy in the first half of 2024, indicators suggest a stable and gradually improving landscape. The real estate market is poised to play a vital role in contributing to this positive momentum, with home values expected to continue their upward trajectory.

In the spirit of Southern hospitality that defines my roots, I extend a warm invitation to explore the possibilities that the DFW real estate market holds. Whether you are a seasoned homeowner or a first-time buyer, I am here to ensure that your real estate journey is not just successful but also a memorable and enjoyable experience.

As always, please feel free to reach out with any questions or if you simply wish to discuss your real estate goals. I am here to serve you with the utmost professionalism and dedication, making your journey in the world of real estate a seamless and rewarding one.

Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people who are dealing with that fear – maybe you’re one of them.

To help ease that concern, here’s what the experts say will happen with home prices not just next year, but over the next five years.

Experts Project Ongoing Appreciation

While seeing a small handful of expert opinions may not be enough to change your mind, hopefully, a larger group of experts will reassure you. Here’s that larger group.

The Home Price Expectation Survey (HPES) from Pulsenomics is a great resource to show what experts forecast for home prices over a five-year period. It includes projections from over 100 economists, investment strategists, and housing market analysts. And the results from the latest quarterly release show home prices are expected to go up every year through 2027 (see graph below):

And while the projected increase in 2024 isn’t as large as 2023, remember home price appreciation is cumulative. In other words, if these experts are correct after your home’s value rises by 3.32% this year, it should go up by another 2.17% next year.

If you’re worried home prices are going to fall, here’s the big takeaway. Even though prices vary by local area, experts project they’ll continue to rise across the country for years to come at a pace that’s more normal for the market.

What Does This Mean for You?

If you’re not convinced yet, maybe these numbers will get your attention. They show how a typical home’s value could change over the next few years using the expert projections from the HPES. Check out the graph below:

In this example, let’s say you bought a $400,000 home at the beginning of this year. If you factor in the forecast from the HPES, you could potentially accumulate more than $71,000 in household wealth over the next five years.

Bottom Line

If you’re someone who’s worried home prices are going to fall, rest assured a lot of experts say it’s just the opposite – nationally, home prices will continue to climb not just next year, but for years to come. If you have any questions or concerns about what’s next for home prices in our local area, let’s connect.

Embracing a Promising 2024 in Real Estate

Experts Project Home Prices Will Rise over the Next 5 Years

Experts Project Ongoing Appreciation

What Does This Mean for You?

Bottom Line

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