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About Video - 2024 Housing Market Forecast after Federal Reserve's Interest Rate Change | Chris Gorman
2024 Housing Market Forecast after Federal Reserve's Interest Rate Change | Chris Gorman
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🔻DESCRIPTION🔻
The Federal Reserve, concluding their December 2023 meeting, announced an end to federal rate hikes, signaling expectations of rate decreases by late 2024. This has significant implications for the 2024 real estate market.
Anticipating rate drops around mid-2024, we explore the impact on the frozen housing market, particularly in freeing up inventory. Millennials, now 52% of the population, could narrow the homeownership gap with Baby Boomers if rates dip into the fives by year-end.
Younger generations, inclined towards renting, might witness an uptick in homeownership as rates decline. Graphs illustrate the interest rate trend over the last year, showing a peak followed by a steady decrease. A notable gap between the 30-year fixed rate mortgage and the 10-year treasury note raises questions about future trends.
Despite varied opinions, we dismiss housing market crash speculations lacking fundamental support. Institutional buyers holding inventory contribute to price stability.
Looking ahead to a bustling 2024 real estate market, our observations suggest increased activity compared to 2023. If you're considering buying or selling, let us know. Subscribe and like to support us – we value your feedback and encourage open conversations based on data-driven predictions.
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🔵 Related Tags👇
☑️ Federal Reserve interest rate change
☑️ 2024 housing market Chris Gorman
☑️ homebuying trends
☑️ homes for sale
☑️ real estate investing
☑️ housing market analysis
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