If you’re thinking about buying or selling a house right now and wondering about the real estate housing market, you’re not alone. The housing market has seen a lot of unusual trends in the past couple of years, so it makes sense you’d want the latest market update before you decide to buy or sell. The truth is, housing market predictions are about as reliable as weather forecasts. The real estate pros make their best predictions based on data, but no one can know what’s going to happen with 100% accuracy.
Still, even if you don’t know for sure, you can check out what the experts are saying and make some pretty good guesses. Just remember, you never want to let a market prediction control your housing decisions . . . only your personal situation and finances should do that!
With that said, here’s the real estate market forecast.
Will Mortgage Rates Go Down in 2024?
Mortgage interest rates have been rising like crazy over the last few years, thanks to the Federal Reserve (also known as the Fed) repeatedly raising the federal funds rate. But will that trend finally start heading in the other direction in 2024? Yep! In fact, it already has.
Average interest rates across the U.S. for both 30-year and 15-year fixed-rate mortgages began steadily going down in November 2023, and that trend continued into January 2024.1 Rates will likely keep going down throughout the rest of the year, especially…
