Understand your options for buying or selling a home in the rapidly evolving 2024 housing market — and how to time it, or not.

When will homes become more affordable? Is it a buyer’s market or a seller’s market? How can you figure out how much house you can afford? Homes and Mortgages Writer Kate Wood joins host Sean Pyles with an in-depth analysis of the 2024 housing market, providing strategies for both buyers and sellers to tackle the challenges posed by high mortgage rates and a limited housing supply. They begin with a discussion on the complexities of the current market and the importance of credit-building and budgeting for potential buyers. For sellers, they share tips for making smart home improvements and preparing more generally for selling a home in the current housing market.

Kate also explains mortgage rate locks and discusses recent fluctuations in mortgage interest rates and their impact on the market. She shares a historical perspective comparing past mortgage rate highs and lows, emphasizes the significance of personal timing over market timing when making real estate decisions, and breaks down the role of the Federal Reserve in influencing mortgage rates.

In their conversation, the Nerds discuss: 2024 housing market, strategies for buyers, strategies for sellers, high mortgage rates, housing inventory, real estate, home buying success, financial readiness, rate protection, mortgage rate lock, mortgage interest rate fluctuations, historical rate comparisons, Federal Reserve influence, housing market timing, home ownership, real estate transactions, Zillow predictions, Realtor.com predictions, housing affordability, good credit, down payment, bidding wars, and first-time homebuyer programs.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.

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How to Navigate Home Buying and Selling in 2024: Real Estate Prices, Interest Rates and More 20:16 Share

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How to Navigate Home Buying and Selling in 2024: Real Estate Prices, Interest Rates and More