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  • Writer's pictureTara Powell

What's Trending in 2024?

In a world where change is the only constant, the real estate market continues to

trend and fluctuate. Hi, I am Tara Powell with the RE/MAX NC Coastal Team. Recent housing trends have been unpredictable and also full of potential.

Whether you are looking to buy, sell or invest the key to navigating this market is understanding the market’s ebbs and flows. The real estate market is known for its cylindrical nature that affects property value, investment returns and market activity. These fluctuations are influenced by the highs, and the lows of what’s trending.

So what are some of the booms and busts that influence the market? 1. Rising property values. During a boom, property values typically increase. This is due to strong demand, limited inventory and economic growth. And 2. Easy Financing. During boom periods, financing tends to be more favorable with lenders offering more incentives and better terms, encouraging more people to buy.

So, what about the busts? What trends do we see in a low market? Well, falling property values for one. In a market downturn, property values can drop due to oversupply and less demand or economic conditions. This can also cause lenders to tighten their belts on financing as they become more cautious about lending and making it harder for buyers to secure loans.

As of today, we are seeing the current housing trends to be more favorable for both the buyer and the seller. These trends are a gradual shift to a more balanced market with slight improvement in affordability for buyers.

Keep in mind the real estate market can vary by location so it is best to always consult with your local area expert. If you would like more information on the current market prices and inventory in your area, please reach out to us so we can help assist and guide you through this big life decision. 

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