Housing outlook for 2024 as well as mortgage rate forecast. The number of people who believe mortgage rates will drop in the next 12 months is the highest ever recorded and pent up demand could have people flood back into the housing market as interest rates could drop into the high 4% range if a strong recession actually occurs.
Mortgage rates have dropped over 1% in the last 3 months and the supply of homes for sale are near record lows historically. The number of homes sold in 2024 is likely to be more than 2023 if more sellers will put their houses on the market.
This news is from an article that just came out and is accurate for both the housing market as well as the mortgage interest rate forecast for 2024.
