Have you been naughty or nice this year? It doesn’t matter, if you are selling in 2024 I have a feeling Santa is going to be bringing you lots of good cheer, and mucho dinero too! 30 year fixed mortgage interest rates have dropped into the low 6's, and it looks like they will go down further in 2024. The fed has indicated they'll do 3 prime rate cuts in 2024, which will bring down the mortgage interest rates further. With the Core PCE falling further and faster than the fed has anticipated, they may even do more and deeper prime rate cuts. This should boost the ranks of the current crop of buyers and make for a competitive landscape, i.e. multiple offer situations. Lack of inventory kept the market steady in 2023, and there is no reason to believe that will be any different next year. All in all, 2024 is shaping up to be a good year for sellers!
I hope your holiday season is wonderful, and that next year brings you much happiness. Feliz Navidad y prospero ano.
BTW - That's yours truly pictured above out at Ocean Beach, carving a turn off of Judah St sandbar last week. Photo credit to my buddy Nick Salcedo who wasn't surfing that morning. Because my friends and I are typically surfing together there's not a lot of photos of us in the water, so this was a treat for me.