"2024 Housing Outlook: Buyer Relief and Market Predictions Across the US"
Housing market experts predict a gradual improvement in the housing market for 2024, with a slight decrease in mortgage rates and a modest increase in home sales and construction. Mortgage rates are expected to average around 6.5-6.8%, and home prices are forecasted to either hold steady or slightly decrease. The market is anticipated to become more accessible, with an increase in inventory and affordability, particularly in southern metro markets and the most affordable Midwest regions. However, significant price drops are unlikely, and the affordability threshold is expected to improve as mortgage rates stabilize.