In the second half of 2024, the real estate market is expected to exhibit mixed dynamics shaped by economic conditions, interest rates, and shifting buyer preferences. With inflationary pressures easing and interest rates stabilizing, housing affordability may slightly improve, encouraging more first-time buyers to enter the market. Urban areas could see renewed interest as remote work trends evolve, prompting a balanced demand between city and suburban living. Inventory levels might remain tight, supporting moderate price growth, particularly in high-demand regions. However, sellers may need to adjust their expectations as price appreciation slows compared to the past few years. Sustainable and energy-efficient homes will continue to attract buyers, reflecting the ongoing emphasis on green living. The luxury market is anticipated to stay robust, driven by affluent buyers seeking premium properties. Overall, while challenges like affordability and inventory persist, a stable economic backdrop and evolving buyer trends suggest a cautiously optimistic outlook for the real estate market in the latter half of 2024.
