What’s in store for the Atlanta Real Estate Market in 2024?

What’s in store for the Atlanta Real Estate Market in 2024?

Atlanta Real Estate MarketAfter a tumultuous 2023, buyers and sellers alike are asking the same question…what is in store for the Atlanta Real Estate market in 2024??!! Good news y’all, industry experts predict we are going to see an overall improvement in the Atlanta housing market next year. Interest rates will come down, and home values will remain up due to the ongoing issue of supply and demand. Side note: supply and demand is the main reason we have not seen a housing “crash” despite a significant slowdown in buyer activity…the housing supply in 2023 was half of the supply in the 2019 pre-covid market. There are simply not enough homes on the market for the market to crash. Sorry folks. Don’t waste time waiting for that to happen.

Back to 2024. Experts predict that we will have a tight 1st quarter, a softer 2nd quarter perhaps as we see a decrease in rates, then 3rd and 4th quarter will really open up as we continue to see rates come down and buyer confidence improve.

What does this mean for buyers and sellers? Buyers: buying NOW is your best chance to avoid a rush in the market once rates drop, causing multiple offer situations to become prevalent once again. Remember…you DATE the rate and MARRY the house. You are not tied to that rate forever. There are lots of opportunities to refinance at a later date into a lower rate. Sellers: buyers are out there buying and homes need selling!! BUT - pricing your home right from the start is very important. Did you know that over 30% of homes right now are selling in multiple offer situations?? Take advantage of the equity you have built in recent years, price it right from the beginning, and you will do just fine in the end.

To sum it all up, the real estate market in 2024 is looking to improve in several different aspects.

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