As we make our way through the early months of 2024, the housing market has been a bit of a roller coaster ride, with several recent market shifts that could affect both buyers and sellers. From the increase in home availability to a noticeable uptick in sales and the potential change in realtor commissions, we've pulled together the latest insights from industry experts Steven Thomas, Zillow, and the National Association of Realtors (NAR).

In this month's housing market update, we're breaking down the latest trends and numbers to give you a clear picture of what's happening in real estate. From the ups and downs of mortgage rates to the latest on home prices and sales, we've got insights from top sources like real estate expert Steven Thomas, Zillow, and the National Association of REALTORS® (NAR). Whether you're in the market to buy, sell, or just keeping an eye on things, Nuvision is here to help you sort through the headlines and help you stay informed about the ever-changing housing market landscape.

As we enter 2024, the U.S. housing market shows signs of a dynamic shift from the previous year's challenges. 2023 was a year marked by high-interest rates, inflationary pressures, and concerns of a looming recession, resulting in a significant downturn in home sales and affordability. However, the onset of 2024 has brought a renewed sense of activity and competition in the market, albeit with continued complexities.

As we approach the end of 2023, the U.S. housing market presents a complex and multifaceted landscape. From a seasonal downshift influenced by holiday distractions to predictions of declining home prices and a shifting demographic of buyers, various forces are shaping the real estate sector in unique ways.

As we head into the final quarter of 2023, the U.S. housing market is undergoing a significant slowdown, with experts predicting the worst year for home sales since the housing bubble burst in 2008. While high mortgage rates and rising home prices are making homeownership increasingly unattainable for many, existing homeowners with low mortgage rates are enjoying significant equity gains. The result is a market of stark contrasts, pushing buyers and sellers to opposite ends. However, not all experts are ringing alarm bells. Steven Thomas, a real estate expert, argues that the current state of the market should not be a cause for widespread panic. Find out the full story...

Summer 2023 was a season of paradoxes in the housing market. A period marked by low inventory, homeowners' reluctance to sell, suppressed demand, and a low number of closed sales. Despite rising home values and brisk sales, the landscape reflects scarcity and a lack of activity.

In June, U.S. home prices experienced another surge, approaching near-record levels. While some see these highs as a positive sign of a recovering real estate market, many prominent real estate experts caution that the worsening inventory shortage could deter many prospective homebuyers from entering the market. A recent report from Redfin, a real estate brokerage firm, reveals that median home prices rose by 1.9% in June compared to the previous month, reaching an average of $426,056.

With the summer season beginning, the housing market is entering its second busiest time of the year. While spring traditionally takes the top spot, summer can be an excellent time for both buyers and sellers. But since the market is anything but predictable lately, it's important to keep a close eye on current market conditions, along with historical trends, carefully assessing the risks and opportunities that could lie ahead.