2024 Real Estate Predictions

2024 Real Estate Predictions

Lawrence Yun, the National Association of Realtors® (NAR) Chief Economist, has analyzed the U.S. residential real estate market, noting high mortgage rates, elevated home prices, and limited inventory as ongoing challenges. He projected an 18% decrease in home sales for 2023, following a previous 17% drop in 2022, largely due to rising interest rates. Yun said he expects interest rates to decline to around 6-7% by spring, potentially boosting sales. He also anticipates a 15% increase in existing home sales in the coming year, with builders benefiting significantly from the current housing shortage. The market's competitiveness and diverse business models have been advantageous for both homebuyers and homeowners​ in the U.S.

Click here to read more about Yun's 2024 Real Estate Predictions

Are you looking for luxury properties? Click Here. For assistance with commercial transactions, please visit Frette Commercial.

Check out our Frequently Asked Questions: FAQ

Please call Barry Frette at 561-880-5587 to discuss how 2024 Real Estate Predictions may impact your upcoming real estate transactions.

Comments are closed.