Posted 12/21/2023, 1:00:01 PM
Homebuyers Hopeful as 2024 Forecast Predicts Cooling Housing Market After Frustrating Years
- Interest rates are forecasted to drop in 2024, making homebuyers more optimistic about the market
- 2023 was frustrating for buyers, sellers, and brokers due to high prices but low inventory and transactions
- The suburban housing market remains hot, with 40-55% of sales going over ask price
- Some sellers are getting frustrated and just want to offload their properties, even at a discount
- After all the pandemic upheavals, 2024 could be the year buyers and sellers accept the new realities of the market