As we barrel through to the end of the year, we all have a lot of questions about how our real estate business will fare in 2024. We've been through a lot since 2020, mostly all good in the real estate world. As we clip along with higher interest rates and concern about the economy, all I have for a 2024 prediction is a gut feel. But I am encouraged by articles as follows:

Recession Coming? Soft Landing? - CLICK HERE TO READ

We have heard a wide range of predictions and nothing is certain. What we do know is that there has been a considerable slow down in our number of transactions in 2023. This makes me think that there are a lot of people on the sidelines . . . either waiting to sell when rates improve for their next purchase, or buyers that are waiting for lower rates or price drops before making their commitment. This is all pretty well known to all of us, and it has been in the real estate news daily.

Whatever happens in our near future, we all know that when / if rates start dropping, the consumer real estate outlook will change for the better. It may take 6 months, 1 year, or even 2 years - Heck, we may even have a rate increase again before the first reduction. Who really knows?

It is not our job to predict what is going to happen, but it is our responsibility to be prepared. And, if you are trying to figure out the best way to get ready, the number one sure-fire task is to build up your listing inventory. If our market goes red-hot, a listing will take you halfway to a closing. If the market stays as it is, you will likely sell it eventually, have a place to do open houses, and have something to announce to your sphere and the neighborhood. Either way, if you need somewhere to focus your business, focus on listings!

Get your mind and business ready for a productive 2024! Have a strong end to the year and enjoy your family and friends over the holidays.

Merry Christmas, Bellator Colleagues!