Will 2024 be a buyer’s or seller’s market?

[Jayvelyn Carbonel]

The U.S. real estate market seems unstoppable as home prices across the country continue to rise. But basing on the recent data, is it safe to say that we are entering a buyer's market this year?

When the market is unpredictable like it has been for the past 12 months or so, predicting demand is difficult. And there are several factors to consider, the high cost of living caused by high inflation rates and high interest rates and other more.

"If you're thinking about selling your home, this is absolutely the time to do it," a licensed real estate agent mentioned. Despite the high mortgage interest rates, he believes now, and most of 2024, will still be a sellers' market.

Sellers continue to dominate today's market due to tight inventory. Since there are fewer homes available than buyers, each home for sale becomes a hot commodity rather than being a good value. This year appears to be a seller's market unless inventory rises significantly.

Do you agree with this?