When Will Home Prices Be More Affordable For 2024?

Written By Cynthia Wollersheim. The Fine Art Of Real Estate

I Wish I Had A Crystal Ball…

Great Question…Forbes Advisor Says:
The housing market might finally be entering a transitional phase.

Summer sales have been tepid thus far, but there are signs that activity could heat up by the end of the summer as mortgage rates plunge to their lowest levels in roughly 15 months and much-needed resale inventory continues to enter the market, giving buyers more options.

Other good news for home shoppers is the ongoing decline in the median price for a new home—now below the median resale home price—even as builders continue offering buyer incentives.

Nonetheless, experts say the housing market will only see renewed momentum once mortgage rates drop enough to ease affordability challenges and incentivize homeowners locked in at low rates to move so inventory grows substantially to meet demand.

We at www.SoldByWollersheim1.com and www.SoldBYWollersheim.com are professional, and knowledgeable in this ever changing real estate market. Contact us on our site.

Current Mortgage Rates For Aug. 29, 2024 at 53226

$410,000. Home with 20% Down Loan
According To Forbes Advisor:
Purchase​ A Home In Zip Code 53226
Milwaukee, WI ​
Weekly Mortgage Rate = 5.79% vs. 6.43% National Average

Property Value​ $ 410,000.
Loan Amount. $ 328,000.
Percent Dow 20%
Loan Term. 30 year fixed, 5/1 ARM
Credit Score 780+
Property Type: Single Family

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Cynthia Wollersheim. The Fine Art Of Real Estate

Cynthia Wollersheim - Realtor At Homestead Realty, Inc.

Homestead Realty, Inc. is a larger boutique - client centric realty firm that truly cares and will go the extra mile to close a transaction- fairly and ethically for all parties - both our sellers and buyers. We are passionate realtors. I care about our many clients. Our community of satisfied clients lies at the heart of all we do at Homestead Realty, Inc and Sold By Wollersheim.com. Having grown up in Wauwatosa and attended schools in that neighborhood .. I know the areas around Wauwatosa. As a long-standing member of the Brookfield, New Berlin, Wauwatosa, Elm Grove communities, we know what our clients seek - professionalism and compassion.

Many of you know I am an artist first and was a corporate Fine Art Dealer for close to 40 years in Downtown Milwaukee. I designed and created the John Lennon Exhibit that traveled the world with over 330 Million people seeing the exhibit world wide. I have strong negotiating skills and work to enhance my sellers or buyers real estate experience in a stress free communication style that creates a win-win style for all parties.

https://Www.SoldByWollersheim.com
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Is The Housing Market Still Strong?