Meanwhile, Freddie Mac believes house prices will enhance at a slower tempo of two.6% in 2024, down from 5.4% in 2023 versus the 12 months prior. Homebuyer demand declined but residence prices truly rose 2% to 5% larger by the top of 2023 versus a year ago. The signals for 2024 are for barely improved inventory, more selection for consumers. But buyer demand is inching greater too, so the market balance looks as if it’ll proceed into the next 12 months, meaning the housing market is unlikely to crash anytime soon.
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