"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. Find out what all of this means for the City of Philadelphia real estate market in this latest edition of Market Insights.
Larry Flick V
Chief Executive Officer
A look at the residential real estate market in City of Philadelphia at the 4th Quarter of 2023.