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Homeownership Dreams | Beach Road Realty Blog

Monday, January 15, 2024   /   by Richard Eimers

NAVIGATING THE REAL ESTATE LANDSCAPE IN 2024

In the past year, a significant portion of home buyers and sellers observed from the sidelines, witnessing a decline in home sales momentum. This downturn, initiated by the Federal Reserve's interest rate hikes in 2022, coupled with soaring borrowing costs and record-breaking home prices, marked the most substantial real estate market deceleration since the 2008 recession [^2^].

The surge in home prices has priced out a generation of potential buyers, delaying their dreams of homeownership. Simultaneously, current homeowners, reluctant to relinquish their advantageous pandemic-era mortgage rates, have opted to wait, leading to a noticeable drop in property listings [^4^].

Hope is on the horizon, though. In December, the Federal Reserve signaled a halt to interest rate hikes and hinted at a potential 0.75% rate cut in the coming year. Although mortgage rates don't mirror the federal funds rate precisely, they often move in sync, suggesting the possibility of more affordable home l ...

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Beach Road Realty
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798
Beach Road Realty

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