With 2024 just 6 weeks away, some national experts are releasing their predictions for the national housing market. In Cape May County, single family home prices have increased 8.8% year-to-date, while condo/townhomes have increased 2.5%.
Remember: when interest rates are low, there is more competition. Don't try to time the market; instead, find a home that works for you and spend time IN the market!
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Some Highlights
- Thinking of buying or selling a house and wondering what the new year holds for the housing market? Experts forecast home prices to end this year up 2.8% and to rise another 1.5% in 2024. And climbing prices help make homeownership a good investment.
- Plus, home sales are projected to increase in 2024. That’s good news because it means experts are forecasting more activity as people continue to move.
- If you're planning to buy or sell, it’s helpful to know what experts project for the housing market. Connect with a local real estate agent to talk about the latest forecasts and craft a plan together.
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