Every December, people come up with predictions for what the real estate market holds in the new year. In this market especially, many of the forecasts are extreme. The truth about home prices might not be quite so dramatic.

We can’t predict the future with 100% accuracy, but we can certainly assess probabilities to get an idea of what’s coming. Home prices aren’t driven by one thing - there are multiple values that play into them. The 2023 real estate market was flat, but 2024 could be different.

What are some of the key factors that influence home prices? Instead of just focusing on market conditions, what should we be doing?

In this episode, I share my predictions for the real estate market, and the variables influencing my position.

The most important thing in 2024 isn’t to know what’s happening in the market. It’s having a great plan. -Tom Cafarella 

Three Things You’ll Learn In This Episode

-Why it’s hard to make accurate market predictions 

Many people are predicting extreme highs or extreme lows. Are the conditions in the market present for any of these scenarios?

-Jobs, wages and inflation 

How do these 3 factors play into the home prices and what can we expect in 2024?

-The good news for real estate professionals 

There are a ton of people waiting on the sidelines to purchase homes. Will they take action even if rates don’t go down?