Press & Media

As the new year unfolds, Mayer Realty Group, a prominent team of real estate agents in the greater Canton area, has released its comprehensive forecast for the 2024 real estate market. The report presents a detailed outlook, combining industry trends, local insights, and forward-thinking predictions. The past year saw decreases in home sales across all four major U.S. regions, according to the National Association of Realtors. Year-over-year, total existing home sales fell 7.3 percent (down from 4.12 million units), a figure lower than anticipated. However, Mayer Realty Group remains optimistic about the future, projecting a robust 15 percent increase in home sales for 2024. This optimistic outlook is fueled by the expectation of declining interest rates, which could break the longstanding low-rate addiction and revitalize the market. A key focus of the forecast is the downward trend in financing rates, which began in late 2023. Experts speculate that rates could fall below 6 percent by year-end, potentially nearing 5 percent. However, they caution that the uncertainty of an election year could bring unexpected shifts, particularly in short-term rates. The report also highlights a notable shift in construction trends. With rental property construction slowing due to declining rents, a resurgence in single-family and condo construction is anticipated. Additionally, a trend is emerging in converting commercial properties into residential spaces, a response to the changing market demands. Renovation opportunities are another area of growth, with the average age of U.S. homes around 40 years. Innovative financing programs are poised to play a significant role in this sector, offering unique opportunities for buyers and sellers. Local government initiatives are expected to influence the market significantly. Municipalities that proactively revise zoning laws and streamline approval processes are likely to see accelerated construction and reduced costs, attracting more businesses and residents. The pricing of real estate is predicted to continue its volatile trend, varying significantly by location and property condition. The forecast notes that newly built homes will command a premium, while the value of older properties will depend on their updates and overall condition. Design trends for 2024 are expected to showcase a diverse range of styles, with high-end properties likely favoring classic, timeless designs over fleeting trends. The real estate profession is poised to navigate through challenges, including multiple lawsuits and potential legislative interventions aimed at reducing transaction costs. Despite these hurdles, we believe in the enduring value of professional real estate services. The adoption and integration of artificial intelligence (AI) in real estate are also highlighted. Companies like our own brokerage, COMPASS, that have embraced AI early are expected to continue benefiting from this technological advancement, while those lagging behind may lose their competitive edge. Finally, the report touches on the evolving nature of the real estate profession. With increasing competition and rising costs, smaller brokerages may face mergers or closures, while agents will need to enhance their professionalism to remain relevant. In conclusion, the Mayer Realty Group’s 2024 real estate forecast presents a year filled with both opportunities and challenges. With a blend of optimism and strategic planning, the group is poised to navigate the dynamic landscape, providing unparalleled service to clients in the greater Canton area. For more insights into the real estate market and analysis of recent trends, visit mayerrealtygroup.com/blog.

Mayer Realty Group of Compass Is Teaming Up With Caring Partners & Coats for Kids and Families To Collect Winter Coats For Children And Adults In Need - Now through January 8 th Winter coats needed to fulfill one mission: “Anyone who needs a coat, will have one.” Canton, MA, November 1, 2021 – In hard economic times and cold New England weather, a warm coat isn’t a luxury… it is a necessity. In our very own community, there are thousands of children and adults who may otherwise not have access to warm winter coat this winter. Mayer Realty Group of Compass is proud to be a collection partner for Coats for Kids & Families. Coats collected will be professionally cleaned by Anton’s and given to local nonprofits, social service agencies, and schools for distribution. We are asking the community to donate coats for children and adults. Contact [email protected] to donate. The Coats for Kids & Families coat drive sponsored by Anton’s Cleaners, Enterprise Bank, and Jordan’s Furniture kicked off October 8 th and runs through January 8, 2022. With the help of local schools and community partners, the organization has collected, cleaned, and distributed 1,150,631 since the program began in 1995. “For nearly three decades, Caring Partners has had one mission: anyone who needs a coat, will have one,” said Arthur Anton Jr., COO of Anton’s Cleaners and founder of the program. “Local schools, companies, clubs, and nonprofits collaborate each year to collect, clean and distribute 50,000 winter coats - it is nothing short of a miracle. We are proud this program gives back directly to the communities we serve.” Coats for Kids & Families accepts warm winter coats that are gently used, good quality, and all sizes (especially XL and infant/pre-K sizes). The drive does not accept coats with rips, tears, broken zippers, or permanent stains, nor can we accept sweatshirts, vests and spring coats. Coats will also be collected at all Anton's Cleaners, Jordan's Furniture, and Enterprise Bank locations through January 8th. Partners for the 2021-2022 Coats for Kids & Families drive include Anton's Cleaners, Enterprise Bank, Jordan's Furniture, Boston 25, KISS 108, JAM’N 94.5, 101.7 The Bull, 100.7 WZLX, WRKO, and WBZ News Radio. For more information, visit contact Stephanie Littlefield, Anton’s Cleaners Community Relations, at 978-851-3721 x15 or [email protected]. To register your school or company online to participate or donate, or for more information,