One of the best parts of owning a home is the freedom to make it truly your own with design choices that reflect your personality and lifestyle. Whether you lean toward contemporary design or a farmhouse aesthetic, your home is your canvas.
Even so, it’s always smart to think about the long-term impact those decisions might have on your home’s value. Choosing over-personalized or unpopular materials and finishes could make your home less appealing to future buyers. And selecting out-of-style or overly-trendy elements could cause your home to feel dated quickly.
To help inspire your design choices, we’ve rounded up some of the top trends we’re watching in 2024. Keep in mind, not all of these will work well in every house. If you plan to list or renovate your property, give us a call. We can help you realize your vision and maximize the impact of your investment.
Real Estate Market Forecast: Opportunities for Home Buyers and Sellers in 2024
A growing share of home buyers and sellers sat on the sidelines last year as the pace of home sales continued its downward trajectory.1 In fact, since the Federal Reserve began its series of interest rate hikes in 2022, the combination of higher borrowing costs and record-high home prices has fostered the steepest real estate market slowdown since the 2008 recession.2
Priced out of the market, a generation of would-be buyers has been forced to delay their plans for homeownership.3 At the same time, current owners—reluctant to give up their pandemic-era mortgage rates—are waiting to sell, which has resulted in a sharp drop in listings.4
But there may be some relief in sight: In December, the Fed signaled that it was done raising interest rates—and suggested that it could cut rates by 0.75% over the coming year. While mortgages don’t directly follow the federal funds rate, they typically move in tandem—so cheaper home loans may finally be on the horizon.5
Lower mortgage rates should bring some much-needed movement back into the real estate sector. But with a market this fluid, the home buyers and sellers with an edge will be those who proactively leverage a real estate agent’s on-the-ground expertise and stay flexible so that they can quickly adapt to changes.
What does that mean for you? Read on to learn more about the current state of the U.S. housing market, the potential opportunities for buyers and sellers, and economists’ predictions for the year ahead.
You don’t have to break the bank to celebrate the holidays in style—even in this season of inflation. Prices may be higher on everything from food to gifts to decorations, but there are still plenty of opportunities to eke out extra savings.
For example, according to the U.S. Environmental Protection Agency (EPA), you can save a couple of hundred dollars a year just by sealing your home and boosting its insulation.1 Other small fixes—such as swapping old light bulbs for LEDs and plugging electronics into a powerstrip—can boost your yearly savings enough to pay off some of your holiday budget.
And thanks to a pandemic-era boom in online shopping, it is easier than ever to find deals on new and pre-owned furniture, thrifted gifts, DIY decor, and more. Even secondhand stalwarts like Goodwill have joined the digital fray, making it a cinch to score gently-used treasures at extra-low prices.2
You won’t be the only one bargain-hunting your way to a more financially-stable New Year. Multiple surveys have found that inflation is not only chilling people’s spending, it’s also prompting shoppers to search for better deals and creative ways to reduce their bills.3
Here are some strategies you can use to boost your holiday budget by trimming household expenses: