Housing Market Set for Rebound in 2024 After 2022 Slowdown, Says Construction Industry
• Housing market poised for "renaissance" in 2024 with increased construction and demand, says NAHB CEO • Tobin expects higher homebuilding and sales next year after recent slowdown • Mortgage rates declining from 2022 highs, spurring more buyer interest • Home purchase applications up 22% in December 2022 vs last year • NAHB CEO believes homebuyers adjusting expectations for 5-6% rates in future