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Already, mortgage rates are starting to decline.
So, this fall, mortgage rates are probably going to look the best theyve looked in several years.
This could make it an ideal time for people to buy.
This means more competition among buyers, which could possibly drive real estate prices up a bit.
So which markets are set for a big changeup this season and how could that impact your finances?
Here are five top real estate market predictions for this fall and how they might affect your pocketbook.
More inventory could help ease some of the pressure on prices and give buyers more options.
If youre looking to sell, this could mean favorable conditions for you.
Buyers may now be responsible for their agents commission, which could reshape the negotiation dynamics in homebuying.
Wede noted that this could lead to more buyers feeling empowered to negotiate prices, potentially influencing home values.
Its an important change that buyers should consider when planning their purchases, he said.
Despite potential increases in inventory, the market is still likely to remain competitive, he said.
It might be wise to connect with alocal real estate agentwho can guide you through this fast-paced environment.
I would imagine a year from now we may be sitting in a market with higher prices.
I do not think we will see any dramatic increases, but more healthy and moderate growth.
This tells us that demand was the same in August 2024 as it was in August 2023.
Not only did prices not drop, they increased by 4.9%.
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