Christina Wilson Your Charleston Realtor

It's A Brand new year! January 2024 Market Update

It’s that time of year when people are asking us: what’s in store for 2024? The problem with predicting the future is that forecasts are based on current knowledge – and unexpected things happen all the time. If you spent much of the 90’s glued to your computer playing The Oregon Trail like I did, it’s a lesson that’s stayed with you for life. Housing-market experts expect continued high prices and tight inventory in the coming months, but lower mortgage rates will be a bright spot in Q1.

If you’re on the fence as to whether or not interest rates play a pivotal role in real estate decisions, we are here to tell you: that’s an affirmative, Ghost Rider. Buyers already have a renewed sense of optimism and are responding to the drop in rates the same way we respond to the end of Dry January: swift, excited, and ready to pounce. We have to say, it’s nice to see buyers enthusiastic again.

While lower interest rates may entice more sellers to list, strong jobs reports and consumer confidence/spending *could* keep rates from going much lower. Interest rates… the real MVPs of mortgage drama! Stay tuned for the next episode of “As the Rate Turns.” One thing’s for sure, demand remains strong as Charleston continues to be a sought-after destination.

We are excited about 2024! Your continued business has been instrumental in our growth and success and we are so thankful for you all.

Cheers,
Christina

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