Summer 2024 – now what?

It’s been two years since mortgage rates skyrocketed while prices have continued to rise. The past year has seen an increase in inventory but the question remains – now what?

And like to many things in Life, the answer is: it depends. Certain areas – particularly Florida and Texas – seem to be poised for a correction as supply continues to mount and demand remains lukewarm.

Another interesting market is Denver CO, where, two years ago, houses were selling in 10 days. Currently, the median time on market is 29 days which has resulted in 57% of homes getting a price reduction.

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