Morgan Stanley Forecasts 3% Drop in Home Prices in 2024, Improved Affordability on Higher Inventory
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Morgan Stanley predicts home prices in the U.S. will drop 3% in 2024 after peaking in mid-2022.
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The investment bank says affordability should improve as inventory increases.
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Morgan Stanley expects home sales to be weak in early 2024 but pick up later in the year.
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The firm forecasts a "soft landing" for the economy, not a housing market crash like 2008.
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