Welcome to today’s Real Estate news roundup, also known as New Home Section’s daily TLDR! As we kick off the new year, let’s take a look at some of the latest stories in the industry. In the Peoria, Illinois area, the real estate market is expected to stabilize in 2024, driven by a steady influx of new residents and job opportunities. Meanwhile, industry leaders reflect on the challenges and opportunities of 2023 and share their hopes for the future. Sarasota-Manatee home prices are predicted to experience growth after a year of stability, thanks to rate cuts and pent-up buyer demand. In North Jersey, experts weigh in on the housing market predictions for 2024, highlighting more stable mortgage rates and improved affordability. Lastly, discover the benefits of incorporating proptech into commercial real estate, as technology continues to shape the industry. Read on to explore these exciting developments and gain valuable insights into the world of real estate.
Peoria, Illinois area real estate market expected to stabilize in 2024
As the new year begins, real estate investors and home buyers in the greater Peoria area are speculating about what 2024 will bring. According to Leslie Rothan, secretary treasurer of the Peoria Area Association of Realtors, a lack of housing inventory has led to elevated home prices in the local market. However, the steady influx of new residents due to the area’s job market, including opportunities at medical centers and companies like Rivian and Amazon, is expected to drive demand and increase home sales and prices in 2024. With affordability being a key factor, the greater Peoria area remains desirable for homebuyers. While interest rates may remain high, experts suggest that this could be a good time to invest in real estate. As the market stabilizes, local realtors can provide valuable insights into the trends and opportunities in the area.
What The Biggest Names In Real Estate Thought Of 2023 – Inman
Fourteen of the real estate industry’s biggest leaders shared their thoughts on the challenges and opportunities that shaped the past year and their hopes for 2024. Rising mortgage rates, antitrust suits, and market volatility were among the key issues discussed. Despite the difficulties, leaders expressed optimism about the future and emphasized the importance of technology, transparency, and providing value to clients. As the industry continues to evolve, these leaders are focused on navigating change, embracing AI, improving training, and delivering exceptional service to meet the needs of buyers and sellers. Discover more insights from these real estate experts.
Read more: https://www.inman.com/?p=1008466
Sarasota-Manatee home prices flat in 2023, but expect growth in 2024
Despite a year of flat home prices in Sarasota-Manatee, experts predict a turnaround in 2024. The local real estate market has defied economic principles, with prices remaining steady even as interest rates rose. However, with the Federal Reserve planning rate cuts and pent-up demand from buyers, homeowners can look forward to a positive year ahead. Luxury properties continue to perform well, and new developments indicate confidence in the growing Sarasota area. Discover more about the market trends and what lies ahead for homeowners in Sarasota-Manatee.
NJ housing market predictions for 2024. Will anything change?
As the new year approaches, experts weigh in on the housing market forecast for North Jersey in 2024. While significant changes are not expected, there is optimism for homebuyers. Predictions include more stable mortgage rates, affordable home prices, and a steady inventory. Despite the current high interest rates, experts believe they will remain fairly stable, giving potential buyers more confidence. Although inventory may remain restricted, homeowners are choosing to turn their homes into rentals due to low mortgage rates. Affordability is expected to improve, providing a sense of calmness in the market. Discover more about the predictions for the North Jersey housing market in 2024.
Incorporating Proptech Into Commercial Real Estate
Discover the benefits of proptech, or property technology, in the commercial real estate industry. With the market valued at trillions of dollars and projected to grow, it’s time for the industry to embrace technological advancements. Proptech simplifies processes, improves communication between landlords and tenants, and enhances property management operations. From virtual tours and user-friendly platforms to AI-driven data analysis and contract automation, proptech offers a range of solutions for investors, landlords, and tenants. By incorporating proptech into your business strategy, you can streamline operations, save costs, and position yourself for growth. Learn more about the potential of proptech in commercial real estate.
We agree that it’s time for Proptech or Property Technology to become part of commercial real estate. Some of us think this is a Babylon Bee article, but it seems to check out. What are your thoughts? Is it time for property technology in commercial real estate or should they have started that in the 2010’s? – We play to much and applaud the effort, I think they’ll really enjoy our plans for this year.
Let us know what you think about the round-ups. Are they a waste of our time or do you find value in them?