The latest on prices and rates
1. Experts forecasts are optimistic
While revisions are normal, experts are updating their forecasts in a big way.
2. Home prices rose in 2023 and will keep rising.
There are still people worried home prices will fall. Get the data to show prices actually appreciated last year and expert forecasts that show they’ll keep appreciating this year.
3. Mortgage rates could continue to drop.
While no one knows for sure what’ll happen next, experts project rates may keep going down and could even drop below 6%. This is good news all around.
Buyers and sellers remain active in every economic environment, including when mortgage rates are high. Buyers determined to find a home they love will continue visiting homes with their agents, and as we mentioned previously, some sellers are reducing prices, which presents an opportunity for those buyers. ~ Mike Lane, VP ShowingTime
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