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Spring Housing Market: The Neighborhood Minute Q1 2024 | WesBanco

03/27/2024 - Neighborhood Minute

Person with a rainbow umbrella, yellow raincoat, and yellow rainboots walking through a neighborhood.
The WesBanco Neighborhood Minute

The Neighborhood Minute: Your Spring Housing Market Preview

April 5, 2024

With Fed Rate Hikes Finished, What’s Next for the Spring Housing Market?

2023 was a challenging year due to the impact of the Federal Reserve’s battle on inflation and its effects on the housing market. But all signs point to a promising 2024. Despite current high rates, the Fed’s anticipated cuts are bringing more confidence to the market. That means rates should begin easing as inflation cools, hopefully giving new life to the much-anticipated spring housing market.

The Latest Housing Market Trend Report

Shopping or selling this year?

  • Home prices are rising, but so are home sales
  • Expect the spring housing market thaw to make well-priced homes more competitive
  • If you’re buying, build up your credit, talk to a loan officer early and make a decision based on your needs, not current rates
  • If you’re selling, price your home to sell and use a broker who knows your neighborhood well

Should I refinance in 2024?

• Before buying and deciding to refinance a house later this year, assess all costs, including paying double closing fees
• When refinancing for a lower monthly payment, remember to evaluate if it saves you on interest in the long term
• Anticipate possible rate drops later in the year before making a decision

2¢ Worth of Wisdom

Q: How can I secure the best possible mortgage rate?
A: “It’s no secret popular 30-year fixed mortgage rates are stuck and fluctuating at high levels. The first step to securing a great rate is to check your credit and do everything you can to boost it. Next, keep your eyes on the rates and lock it in early. You’ll also want to work with a trusted lender to help you through the process.”

—Ed Hensley, Executive Vice President and Manager, Residential Lending


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Tools, Tips and Advice

Is Refinancing a Smart Move for You?

Consider these ideas to determine if now is the right time.

First-Time Homebuyer Tips

Our best guide on prepping your budget, getting pre-qualified and choosing a mortgage and lender.

How Much Will My Home Cost?

Use this calculator to see how much your mortgage would cost over time.



*All information cited can be found on

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