There is no doubt 2023 was hard on the housing market. There are a lot of changes due to the post pandemic era we are all living in. However, the weeks leading into January saw the largest housing price increase since 2020, according to Greycoat Real Estate. 

The first couple of weeks of January are showing some promising activity. Greycoat Real Estate believes buyers and sellers are more confident going into the new year and are getting a jump on things early. They are aware how no it’s easier to sell a house.

The number of new properties on the market is 15 percent higher than last year. Buyers looking for properties are up slightly compared to the first week of 2023. Greycoat Real Estate warns competitive pricing is still important. The amount of new properties is still more than the demand. 

Another insight that there is a sense of confidence in the housing market is the first days of January set a record for the number of people applying for a Mortgage in Principle. People are looking to see what they can afford, which is a sign of people starting to think ahead, reveals Greycoat Real Estate. 

Interest rates are much lower than their peak in the summer, specialists add. Many prospective buyers are finding the news to be a pleasant surprise. There may be an unexpected hiccup in 2024; however, Greycoat Real Estate projects a 2024 mortgage market to be more stable than years past.