Being an aspiring homeowner in the modern age can feel like constant whiplash. Everything is changing rapidly, including housing prices, mortgage rates, and housing availability. As such, staying informed is of the utmost importance if you want to see whether or not you’ll be able to purchase a home in the near future. Two things to always pay attention to are current trends and future predictions based on those trends. Let’s take a closer look at some real estate trends and predictions for Bucks County and Philadelphia County for 2024 that you should have your eye on.
Bucks County 2024 Trends and Predictions
If you’re living in Bucks County, Pennsylvania, you might be wondering, is 2024 the right time for me to finally purchase a house? According to current data and housing forecasts, it’s not likely going to be so (although that heavily depends on your own personal situation and what you’re looking to pay for a home). Bucks County is currently a seller’s market, and will likely remain that way throughout the rest of 2024. Housing prices have only risen in the past few years and have yet to fall back to a level where buyers would consider taking advantage of the lower prices. The housing supply hasn’t improved either, with a minimal supply of less than 2,000 further decreasing over the course of 2023.
If you are planning on buying a home, it’s extremely important to conduct deeper research into the housing market in Bucks County to determine if now is going to be as good as it gets. Fortunately, a good number of homes managed to sell for below the asking price, which may allow you to pay less than the current average price.
Philadelphia County 2024 Trends and Predictions
So, what about Philadelphia County? Would a buyer fare a bit better there if they find that Bucks County trends and predictions for the upcoming year don’t bode well for them? Much like Bucks County, Philadelphia County is a seller’s market, although there may be some hope for home buyers. While housing availability has declined substantially over 2023, available data shows that there may actually be more listings in 2024, although home prices might not be much lower than they are now. The best way to take advantage of these predictions is to figure out where you want to be, the amount that specific types of homes are going for, and determine your budget and location priorities.
Even though the housing market may not be as desirable as prospective homeowners want and may not improve to the degree where they can spend substantially less throughout 2024, the flexibility and high demand indicate that many buyers are finding a way to navigate the current real estate market and find a new space for themselves. See what other homebuyers are doing in today’s market and what they might do in the future, and seek to emulate that to find success.
Make the Homebuying Experience Seamless With Paul Gunter
No matter what the market might look like, one of the best tools at your disposal to take advantage of is having the right realtor. That’s where I come in! Having sold real estate since 1980, I understand the ins and outs and many complexities of the housing markets that you’re trying to navigate today. Whether you’re looking for a Bucks County realtor, Montgomery County Realtor, or one of the top realtors in Philadelphia County, I’m here to help you find the home of your dreams. Reach out to me today to learn more about how you can make your dreams of owning a home a reality.
