Moving into 2024, we’re seeing a number of hopeful signs of an economy and real estate market that are poised to make a strong showing this Spring and into the rest of the year.

Inflation  2.7% | Down from 5.9% a year ago. Still, prices are 18% higher than 2019 but so much better.

GDP (Gross Domestic Product)  3.3% | Better than expected. Sweet spot for Fed to start lowering rates, not to much not too little, a stable economy.

Unemployment  3.7% | Still at historic lows.

Real Wage Growth  5.2% | Outpacing Inflation since February 2023, see graph below.

And most importantly for the real estate market – Interest Rates  6.6% | Projected to continue down in 2024!

American consumers haven’t felt this good about the direction of the economy in years.That may signal the end of what some had come to call a “vibes-cession,” where, despite decades-low unemployment and falling inflation, something still felt a bit off about the economy. – ‘NBC News’

Robert & Lari Johnson | J&J Real Estate