2024 Housing Market is Heating Up - National Market Update April 2024

This year’s housing market is off to a great start. Buyers and Sellers, are you curious to know the latest national housing stats. Hi, I am Krista Mashore with eXp Realty and The Mashore Group. Let’s take a look at what's happening nationally with housing. According to Realtor.com, existing home sales have surged in recent months indicating a positive sign for this year’s housing market. Realtor.com is reporting sales of existing homes jumped 9.5% from January to February which is the largest month over month increase in a year. Experts are predicting the surge in monthly closings are most likely due to the dip in mortgage rates which began declining in the Fall of 2023. According to Realtor.com Chief Economist Danielle Hale, “Mortgage rates tumbled from late October through mid-January and remained steady through February with the lowest rates since May 2023. This dip brought down buyer’s closing costs and enabled more buyers to make a move in 2024.” Nationally, we are seeing home prices continue to rise at about 4.7% year over year to a median national price of $384,500. We are also seeing an increase in housing supply, with 10.3% more existing homes on the market than this time last year. First time home buyers still continue to struggle with affordability often being beat out by cash offers and investors. National statistics show about a third of all existing home sales were paid by cash in February, up from about 28% this time last year. According to the National Association of Realtors, many of the purchases have been either investors or second home buyers. Foreclosures and shortsales continue to remain low representing only 3% of sales. So, what regions of the US are experiencing the highs and lows? Sales were the highest in the West, South and Midwest. The Northeast remains a little sluggish compared to the rest of the US. And finally, Realtor.com is predicting Spring to be the best month for sellers to capitalize on the market. If you would like more information on housing data in your local market area, give us a jingle as we are happy to help. I am Krista Mashore, and when you do what you love, people love what you do!

In 2018 Krista Mashore sold over 22 Million dollars worth of Real Estate and is named in the Wall Street Journal within the Top 100 Agents Nationwide. Please see the article at The Wall Street Journal. To see Krista's local recognition check out this link featured in the Brentwood Press.

Kristas expertise and professionalism is revealed not only in the 14 years in Real Estate but also by being within the top 1% of all Realtors in Contra Costa County continuously since 2002.

Krista posses a Master's Degree in Education, previously employed as a School Teacher. Her excellence derives from her outstanding communication, skills, expertise in marketing, and her optimistic attitude towards life in general. Pristine Customer Service to her clients is a top priority. Krista has a natural ability for developing trust by her client base.

Her attitude is characterized her slogan: "When You Do What You Love, People Love What You Do."