Promising Outlook for US Homebuyers in 2024: Experts Predict Lower Mortgage Rates and Prices

Residential real estate brokerage Redfin predicts that 2024 will be a better year for homebuyers in the US, with a shift towards a buyer's market as inflation subsides, mortgage rates decrease, and more homes are listed for sale. Redfin also expects increased transparency in the homebuying process, with buyers becoming more aware of agent costs and negotiating commissions. However, renters of larger apartments and homes may face challenges as prices for these units are expected to rise, while smaller rental units may see a decrease in prices due to an increase in construction.