"2024: A Promising Year for Homebuyers with Improved Affordability and Lower Mortgage Rates"

The real estate market is showing signs of relief for potential homebuyers as mortgage rates decrease from their peak, with the National Association of Realtors indicating that 2023 was a particularly tough year for home sales. The easing of market pressures and a potential reduction in interest rates by the Federal Reserve could further improve affordability in 2024. Home prices have risen, but the increase in listings and advice to shop around for the best mortgage rates suggest a more accessible market for buyers who are financially prepared.