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Lincoln County Housing Update - Resale Only

Economic Outlook

National Association of REALTORS® Chief Economist Lawrence Yun just presented
his housing market outlook for the remainder of 2023 through 2024. He predicts
that mortgage interest rates will gradually decrease to 6.1% in Q1 of 2024 and
then stabilize at approximately 6% through year end. With lower interest rates,
Yun expects the national number of transactions to increase by 15.5% in 2024
with positive median home price appreciation when compared to 2023.

SALES ACTIVITY INTENSITY™ SCALE

6.06%

4.13%

4.35%

2.89%

UNBELIEVABLE INTEREST RATES

3.18%

MONTHS SUPPLY SCALE

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Lincoln County Housing Update - Resale Only

KEY MARKET INDICATORS august 2023 (July Recap)

National Association of REALTORS® Chief Economist Dr. Lawrence Yun just
forecasted a gradual decline of home mortgage interest rates, leveling out at 6%
through 2024. Therefore, we anticipate more buyers searching to purchase a home.
Approximately 70% of buyers have a home to sell, providing additional inventory.
Separately, the luxury market and lifestyle/destination markets are positioned
with great selection and great pricing; we anticipate increased buyer activity
over the year ahead.

Local Market Impact

Source: NWMLS. Data is for Resale only. © 2023 John L. Scott Real Estate

Lincoln County Housing Update - Resale Only

KEY MARKET INDICATORS AUGUST 2023 (JULY RECAP)



ECONOMIC OUTLOOK
National Association of REALTORS® Chief Economist Lawrence Yun just presented his housing market outlook for the remainder of 2023 through 2024. He predicts that mortgage interest rates will gradually decrease to 6.1% in Q1 of 2024 and then stabilize at approximately 6% through year end. With lower interest rates, Yun expects the national number of transactions to increase by 15.5% in 2024 with positive median home price appreciation when compared to 2023.







Source: NWMLS. Data is for Resale only. © 2023 John L. Scott Real Estate




























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LOCAL MARKET IMPACT

National Association of REALTORS® Chief Economist Dr. Lawrence Yun just forecasted a gradual decline of home mortgage interest rates, leveling out at 6% through 2024. Therefore, we anticipate more buyers searching to purchase a home. Approximately 70% of buyers have a home to sell, providing additional inventory. Separately, the luxury market and lifestyle/destination markets are positioned with great selection and great pricing; we anticipate increased buyer activity over the year ahead.
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