The Tides of Real Estate Ebb and Flow

"When you get into a tight place and everything goes against you, till it seems as though you could not hang on a minute longer, never give up then, for that is just the place and time that the tide will turn."

- Harriet Beecher Stowe

The ocean tides ebb and flow with remarkable consistency. High and low tides are predicted well into the future for mariners to plan their routes.

The real estate market bears some similarities to the ocean tides. It is not so predictable, but we do know that when we reach high tide, it is always followed by a low tide, which is then followed by the next high tide.

Just a few short years ago, we were enjoying a very high tide, but inevitably, we began to see a gradual slowing toward a low tide. It seems to me that 2023 might have proven to be the very end of that low tide cycle.

There are a few indicators that the tide is starting to come back in. Many economists believe the Federal Reserve will begin lowering interest rates ever so slightly in late Spring. As long as we don’t experience a return to inflation, they may drop again later in the year.

A number of real estate experts also believe 2024 will be the start of a more robust market. Just like the tide, it will be slow and gradual, but the fact that it’s heading in the right direction is what matters!

Jonathan R. Krause, President, Gambino Realtors | 815.282.2222 | www.GoGambino.com