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Seizing Opportunities in 2024's Dynamic Market Shift


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The real estate market has been nothing short of a rollercoaster lately, with a frenzy of activity keeping all of us on our toes. However, in the midst of this whirlwind, I stumbled upon some intriguing statistics that have me thinking.


I've noticed an increasing number of "coming soon" listings popping up on the MLS. Now, this got me thinking, and I'm pretty confident about this one. Over the past couple of years, due to the soaring interest rates, the housing inventory seemed to be somewhat artificially restrained. Why, you ask? Well, it's mainly because those potential move-up buyers, eager to transition from their first homes to their next dream abodes, were hesitating due to the high borrowing costs.


With interest rates on a downward trajectory and forecasts predicting further declines in 2024, these move-up buyers are gaining newfound confidence to venture out and hunt for their perfect homes. Some of them have likely already sealed the deal, and that's why we're seeing these "coming soon" signs.


What Lies Ahead

Now, what does all this mean for the rest of the year? Well, we're hopeful for a more robust inventory in 2024 compared to 2023. But here's the twist—don't expect the competition to cool off. With lower interest rates, there's an even larger pool of eager buyers jumping into the market.


So, whether you're itching to buy your dream home or you've been contemplating selling your property for the past couple of years, now is an excellent time to make your move. We've witnessed some listings attracting a flood of offers and a remarkable turnout at open houses. Here's to hoping that this year surpasses the last!


If you have any questions about buying or selling or need guidance to make an informed decision, don't hesitate to reach out to me. Remember, in this market, speed is the name of the game.


Your Bay Area Realtor, Deepak Arora.

CONTACT

408.242.5336

DRE #02179433

ADDRESS

Keller Williams Santa Clara

2520 Mission College Blvd #102

Santa Clara, CA 95054

Copyright ©2023. The Absolute Realty

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CONTACT

408.242.5336

DRE #02179433

THE ABSOLUTE REALTY

Keller Williams Santa Clara

2520 Mission College Blvd #102

Santa Clara, CA 95054

Copyright © 2022. The Absolute Realty

Designed by Ryan Reen

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