Real Estate Agents Reflect Optimism For 2024
During January and February, I conducted a survey that was emailed to over 11,000 licensed real estate professionals in Metro Atlanta to get a sense of what we, as industry professionals and experts forecast for the year ahead. The results indicate an overall positive outlook on what we as a group think 2024 will bring.
While no one can predict with certainty how any segment of an economy or market will ultimately turn out, I find it illuminating to find out from industry professionals how they foresee the future unfolding in their area of expertise. I hope you do as well...
Do You Think 2024 Will Be a Better Time to Buy a House Than 2023?
76% of respondents said that buying a home in 2024 will be better than last year while roughly 11% feel it would have been better to buy in 2023.
Do You Think 2024 Will Be a Better Time to Sell a House Than 2023?
88% of the agents who responded see the 2024 real estate market as a better time to sell than in 2023.
What Do You Think Will Happen to Home Prices in 2024?
71% believe that prices will be up while roughly 29% feel prices will either be flat or down some.
What Do You Think Will Happen to Interest Rates in 2024?
86% answered the question about what they think will happen to mortgage interest rates by saying they believe these rates will fall this year.
How Many Sales Do You Think You Will Have Compared to 2023?
This was quite an enthusiastic number and reflects the optimism and sentiment we are seeing and feeling in the market. 94% of real estate agents believe they will sell more homes in 2024 than they did in 2023!
Only One Side of the Story
This is, of course, only one side of the story but it is a story I believe is important to tell and often overlooked in the "predictions" we see in both news stories and social media posts.
Fundamentally I tend to agree with the sentiment we see in this short survey and the early winter leading indicators of the soon-to-come Spring market do show them to be correct. It's early in the year but I give the correction to the agents this time!