Published January 24, 2024
Will We See More Homes for Sale in 2024?
Over the past couple of years we have seen a steep decrease in the number of homes for sale in St. John's metro.
This has led to continuing competition amongst buyers for well priced and well presented homes.
Understandably, a lot of buyers are exhausted.
So, will we see more homes for sale in 2024?
It's hard to say yes, and here's why:
Mortgage interest rates need to come down far enough to motivate people to list their homes for sale. Many people are locked into 5 year 1.X%, 2.X% and even 3.X% mortgages from 2020 to early 2022. So financially, it doesn't make sense for a lot of these people to move if they don't have to.
In speaking with our mortgage partners, rates are expected to drop, but the question is by how much.
Reach out today by completing the contact form below or contact us directly:
Nicole Darbaz, REALTOR®
Your trusted, St. John’s metro, real estate expert
Darbaz Real Estate Group
Keller Williams Platinum Realty
709-691-1373
Matthew Russell, REALTOR®
Your trusted, St. John’s metro, real estate expert
Darbaz Real Estate Group
Keller Williams Platinum Realty
709-689-8076
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