Real Estate Forecast & Market Today: April 2024

Robert O'Keefe - ROK Realty Group
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In our latest YouTube video, we dive into the latest happenings and trends in the real estate market.

🔑 5 Key Takeaways

1. Mortgage rates have been hovering around the high 6% range, with a recent downtrend to 6.79%.

2. Existing home sales surged with a 9.5% jump, thanks to additional housing supply meeting the rising demand.

3. First-time homebuyers accounted for 26% of all purchases. 33% of transactions were made in cash.

4. The NAR lawsuit and its impact on consumers.

5. Inventory levels have steadily risen, giving both buyers more options and sellers increased competition in some markets.

💡 Fun Fact: New Jersey has been ahead of the curve in terms of disclosures and staying on top of regulations.

🙂 If you have any questions about the real estate market, specific areas, or you're looking to make a move in the near future, don't hesitate to get in touch with us.

👍 Great real estate planning in advance is crucial. We're always here to help you get ahead of the game.

Make sure to watch the full video for more insights. Feel free to reach out if you have any questions!