It’s crucial to know the current housing market and your reasons for buying or selling in 2024. Work with industry experts so that you can bring your vision of homeownership for the year to life.

The economy has had a major impact on the housing markets and your wallet over the past year. It’s important to know not only what the current market is like but also what you’re looking for when buying or selling a house. Danielle Hale is the Chief Economist for Realtor.com. She explains.

” In this difficult housing market, it is important to be focused on your needs now and for the future. This will allow you to make a wise financial decision.

As you set your goals for the year 2024, consider these points.

• Know Your Why

What is the reason you’re thinking about moving? There are many compelling reasons for buying a house today, no matter what the current market conditions. You may need to move because your needs have changed or you are ready to become a homeowner for the first. Your motivation and why can be used as a guide in conjunction with an expert advisor. This will ensure that your move leaves you feeling a sense of accomplishment.

• Find out what your next home needs to look like

How would you describe the home of your dreams? There are more houses for sale than ever before, which could give you more choices when buying. The overall housing supply remains below that of more normal years, so it’s important to work with a professional to find the right home for you. As you weigh your wants and your needs, keep in mind your budget. You will find it easier to find the right home if you know what is essential and where flexibility can be made.

• Find out if you’re ready to buy

Before you start the process, it’s important to know your budget and available savings. Early collaboration with a local realtor and lender is key to ensuring you are in a strong position to purchase. You can plan how much you will save for the down payment and get preapproved to buy a house.

A professional will guide you through every step of the process.

It takes knowledge to buy or sell a house. It’s perfectly normal to feel overwhelmed. Do not let the uncertainty stop you from achieving your goals this year. You can bridge the gap by contacting a trusted expert who will give you all the information and advice about today’s real estate market.

Bottom Line

Build a team with industry professionals and a local agent to ensure you reach your homeownership goal in 2024.