2024 Review

The real estate market in 2024 went through significant changes that made a lasting impression on buyers and sellers. One of the most notable shifts happened in August when the National Association of Realtors (NAR) introduced new policies to improve transparency and accountability. These changes emphasized clearer commission disclosures and stronger consumer protections, building a marketplace that feels more trustworthy and consumer-focused.

Even with these improvements, challenges like low inventory and fluctuating interest rates persisted. Many buyers postponed their decision to re-enter the market or resorted to creative financing options to cope with higher borrowing costs, allowing them to stay on track with their plans.

As 2025 approaches, there’s growing optimism about what’s ahead for real estate. Experts expect interest rates to gradually stabilize, and more consumers are adjusting to higher borrowing costs as the new normal. This shift in mindset is encouraging buyers and investors to move forward with their plans, backed by a renewed sense of confidence in the market’s direction.

Meanwhile, ongoing new construction projects are helping to ease inventory shortages by adding more homes to the market. Sellers with high equity are also starting to re-enter the market, further relieving inventory pressures and offering more choices for buyers. After the lessons of 2024, the housing market is better prepared to handle future challenges, opening the door to growth, innovation, and new opportunities in the coming year.