Where are interest rates going in 2024? Rumors are floating that rates should be coming down which could open up doors for a lot of buyers that have been sitting on the sidelines.

Let’s take a look at 2023. What a wild ride it was. We started with rates in the low 6’s and ended up hitting 8% this past fall. We saw a nice tumble of rates leading into the end of the year and currently are sitting just below 7%.

So if you’re a buyer and you’re waiting for rates to come down or house prices to drop, I would re-evaluate your strategy. Here in Los Angeles, we still have an inventory shortage and I don’t anticipate that changing anytime soon. Also as rates come down it will only mean a wave of competition and bidding wars. This will propel home prices up even more.

I get it house prices are high and interest rates are high. If you’re a buyer and feel stuck in this situation, please send me a private message so we can explore all of your options and come up with the best strategy for you to buy a home!

The market is moving at all times. If you’re a buyer, seller or investor please call me with any questions! I have my pulse on the market with what’s happening today. Headlines are yesterday’s news.

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