Your Top 3 Real Estate Questions Answered by AgentOwned's SC Experts

Navigating the current housing market can be perplexing with conflicting information from various sources. As you contemplate a move, uncertainties may leave you with lingering questions. This is where the expertise of a local real estate agent like AgentOwned Realty comes into play.

Here are the top 3 questions on people's minds about today's housing market, accompanied by relevant data to provide clarity:

1. What’s Next for Mortgage Rates? Mortgage rates have risen in recent years, impacting affordability for potential homebuyers. The relationship between mortgage rates and inflation is a key factor. Historically, when inflation is high, mortgage rates tend to follow suit. However, with inflation easing and the Federal Reserve pausing their federal funds rate hikes, experts anticipate a downward trend in mortgage rates. Though volatility may persist, signs of slightly lower rates have emerged in recent weeks, with expectations for a more pronounced decline in 2024.

2. Where Are Home Prices Headed? Despite concerns of a market downturn, data shows that home prices are on the rise in most areas. Experts predict a continued but more normalized appreciation in home prices. The Home Price Expectation Survey from Pulsenomics, involving over 100 economists and real estate experts, reflects consensus that prices will continue to climb in the coming years.

3. Is a Recession Around the Corner? Recession speculation has been prevalent in recent years, but there's optimistic news. The Wall Street Journal regularly polls experts on this topic, and recent results indicate a shift in sentiment. While last year's predictions leaned towards an imminent recession, current indicators suggest otherwise. The majority of experts now believe that a recession is becoming less likely, providing positive implications for the housing market.

Bottom Line: Contrary to concerns, the data reveals reasons for optimism rather than alarm. If you have more questions or uncertainties about the housing market, consider connecting with AgentOwned Realty. As we approach the new year, let our local real estate expertise guide you through any housing market inquiries on your mind.

If you’re looking for your dream home, or if you need to sell your existing home, we can certainly help, our agents are ready and able! Agent Owned is a full service brokerage that can assist you in getting pre-qualified to loan approval. We can help you with title insurance, home insurance and the warranties you need to protect your most valuable asset. At AgentOwned, we have helped thousands of people buy and sell their homes, we have been in business for over 30 years and know what it takes to get the job done right the first time. 

Each agent has access to a team of qualified professionals from attorneys to mortgage specialists and access to a knowledge base of highly experienced Brokers that can handle any situation. Find the right agent now at: https://www.agentowned.com/all-agents 

To learn more about South Carolina including schools, employment and more see: https://www.agentowned.com/moving-to-south-carolina 

If you’re interested specifically in the Greater Charleston area see: https://www.agentowned.com/moving-to-charleston-sc 

If you’re looking for information about Manning, Sumter and the Lakes Area, see: https://www.agentowned.com/moving-to-manning-sumter 

And if you’re interested in the greater Anderson area see: https://www.agentowned.com/moving-to-anderson