Marty and Max: 2024 Real Estate Market - Boom or Bust?
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Nationally we have higher inventory than last year with 546k single homes of the market. New listings are slightly higher than last year at this time and we have slightly more immediate sales. Remember buyers react more to a large change in rates than the actual rate itself. If rates stay the same, there is a huge buyer demand that we believe will result in a significant increase in the number of transactions.
Nothing in the metrics shows a flood of sellers that could come from investors dumping investments, job layoffs, Airbnb, etc. Falling rates mean falling inventory. In 2018 interest rates rose 100bps and inventory substantially increased. In 2021 rates fell and inventory fell.
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