2023 proved to be an exciting year for home sellers and a challenging year for home buyers. The number of homes listed and sold was significantly down from the previous year creating a very favorable environment for home sellers. Buyers faced a few challenges; in addition to a shortage of inventory, consistently rising interest rates put a strain on purchasing power and affordability.
Some buyers have been hesitant to get into the market fearing a reduction in value once they purchase, this has proved not to be the case. Rather, the supply shortage has commanded higher prices and an overall increase in home values.
The prediction for 2024 is to continue to see home prices rise along with a reduction in interest rates and an increase in home inventory.
If you are contemplating a move in 2024, please reach out. My expertise and local market knowledge will help you make informed decisions. I am proud to serve the Cascades community and would love to be the resource you can count on.