2024 Real Estate Market Predictions & Insights from Vince O’Neill, Chief Economist of Plunk
Unveiling Real Estate Trends
Part of our goal at SentriLock is to be an industry partner for the real estate industry, whether or not you are a customer. To that end, we have begun a series of quarterly webinars on relevant topics for our industry. We were thrilled to have Vince O’Neill, Chief Economist and Senior Data Scientist at Plunk as our first expert guest speaker. The real estate market has been on a wild ride the past few years and Vince offered his insights on the current state of the market and some real estate market predictions for 2024 and beyond.
Vince’s Top 4 Insights For The 2024 Real Estate Market Predictions:
- Over the next decade, baby boomers retiring, downsizing, and moving into retirement housing will add significantly to the available inventory.
- Inflation is still a concern, but there are positive indications that it is moving in the right direction.
- If the Federal Reserve maintains its current approach, mortgage rates are projected to drop throughout 2024, eventually stabilizing at a new normal, likely above the historically low 3% levels seen in 2021.
- 2024 is likely to see a more balanced real estate market with velocity and dynamics more similar to historic trends.
If you missed the webinar or wish to rewatch it, you can find the video below. You can also view his presentation slides.
Be sure to mark your calendars for our upcoming seminar in September, where we will be discussing agent safety with Carl Carter and Tracey Hawkins. Register now to secure your spot for this informative session!