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2024

Market Insights

Latest Issue — Q4 2023 Report

A mESSAGE FROM OUR CEO

"Real Estate is Ready…for a New Year!"

The real estate market in 2023 was difficult, to say the least. Nationwide, the number of sales in 2023 decreased 18% over 2022. This was on top of the previous year’s sales, which also declined by 18%. 

Can we expect more of the same in 2024? Yes and no. It all hinges on the forecast that interest rates will continue to decline. And most economists agree this will be the case. Click to learn more.

Larry Flick V

Chief Executive Officer

No

– By The Numbers –
Q3 2022 compared to Q3 2021

-4.6%
Home Sales
-1.11%
Number of Houses for Sale
-10.98%
Pending Sales
+11.6%
Average Sale Price
-8.9%
Home Sales
-13.97%
Pending Sales
-16.79%
Number of Houses for Sale
+13.6%
Average Sale Price
-3.4%
Home Sales
-13.45%
Pending Sales
-17.73%
Number of Houses for Sale
+4.5%
Average Sale Price
Even
Home Sales
-9.8%
Number of Houses for Sale
-8.48%
Pending Sales
+5.8%
Average Sale Price
-8.2%
Home Sales
-25.55%
Pending Sales
-41.19%
Number of Houses for Sale
+2.5%
Average Sale Price
+5.2%
Home Sales
Even
Number of Houses for Sale
-2.75%
Pending Sales
+3.2%
Average Sale Price
+2%
Home Sales
-18.23%
Number of Houses for Sale
-4.11%
Pending Sales
+17.6%
Average Sale Price
-14.3%
Home Sales
-22.34%
Number of Houses for Sale
-18.17%
Pending Sales
+11.1%
Average Sale Price
-22.8%
Homes Sold
-7.68%
Number of Homes for Sale
-25.8%
Pending Sales
+10.6%
Average Sale Price
-11%
Houses Sold
-14.6%
Pending Sales
+1.3%
Number of Houses for Sale
+8%
Average Sale Price
38%
Decrease in home sales
5.11%
Average mortgage rate (30-year fixed)
44%
Decrease in inventory
6.9%
Increase in average sales price
11.5%
Increase in home sales
3.2%
Average mortgage rate (30-year fixed)
18.6%
Decrease in inventory
9.5%
Increase in average sales price
18%
Increase in home sales
3.05%
Average mortgage rate (30-year fixed)
8%
Decrease in inventory
6.74%
Increase in average sales price
31%
Increase in home sales
3.00%
Average mortgage rate (30-year fixed)
33%
Decrease in inventory
18%
Increase in average sales price

The reports

Choose a region to get local insights and a forecast of what’s to come.

Southeastern Pennsylvania

Southern New Jersey

City Of Philadelphia

Northern New Jersey

Philadelphia's Main Line

South Jersey Shore

Lehigh Valley

Central New Jersey

Central Jersey Shore

Northern Delaware