New president of Fresno Association of Realtors
Fresno has about five weeks of housing inventory. In a healthy market, you'd have at least three months of inventory.
FRESNO, Calif. (KFSN) -- Gary Carter was proud to make history as the first African-American president of the Fresno Association of Realtors.
"I would say I became the first person of color, correct," he said.
Carter's theme is "Together We Stand."
He doesn't expect to see a noticeable decrease in mortgage interest rates until the latter part of the year, but he believes more home buyers will come off the sidelines in 2024.
"I do believe that individuals will come back into the market because of these factors: tax season, the weather will be changing," he said.
Carter says the median price of a Fresno home for sale right now is $370,000.
As prices have risen over the years, he has noticed more multi-generational families entering the market.
"You're seeing even with existing homes that families are moving in together," he said. More than one family to help out with expenses. Builders are picking up on that. They are building homes with a family in front, maybe the mother in law, and the family's in the back of the home."
Many builders partner with local realtors to help sell new homes.
New loan programs offered by some builders can make a deal more enticing.
Carter adds Fresno has about five weeks of housing inventory.
In a healthy market, you'd have at least three months of inventory.
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