The normally busy summer housing market season is over – and it wasn’t all that busy – and as we ease into autumn, things could pick up considerably.
Some analysts predict that the next three weeks – through October 5th – could save buyers more than $14,000 from the summer high on a median-priced home of $445,000.
Why the change?
Prices always drop after the summer peak. Moreover,it’s expected that there will be 14% more listings than the average 2024 week and 37% more compared with the beginning of the year.
Finally, it’s widely expected that the Federal Reserve will cut interest rates soon and the mortgage rate could drop to 6.3%, a huge boon to home buyers.