Summary and Key Points
Here is a summary of the key points from the 2024 Housing Market Forecast
- Housing experts forecast home prices will continue rising in 2023 and 2024, with increases of 2.8% and 1.5% respectively. This makes buying a home a good investment.
- Total home sales are also projected to increase slightly in 2024 compared to 2023, indicating more market activity as people continue moving.
- The forecasts suggest the housing market will remain relatively strong, with modest price growth and more sales activity.
- For those planning to buy or sell a home, knowing the expert projections for 2023-2024 can help inform decisions and plans.
- Key sources for the forecasts include Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors.
In summary, the 2024 Housing Market Forecast is predicting a still active housing market over the next two years, with steady, moderate price growth and a slight increase in total home sales expected. The forecasts can guide plans for buying or selling.
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