Shortage of available homes will persist in 2024, keeping prices high. Mortgage rates, despite potential decreases, will remain crucial for buyer affordability.
Pandemic disruption altered typical seasonal housing market patterns. Expect some normalization in 2024, yet imbalance in housing supply-demand will persist.
Changes in buyer agents' payment process by NAR adds complexity to homebuying. Impact of the settlement on the 2024 market remains uncertain but expected to complicate the process further.
Traditional seasonal trends expected to resume somewhat in 2024. Inventory likely to increase in warmer months, but supply-demand imbalance and higher rates will still make the market unpredictable.
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