Lawmaker: REALTORS® Woke Us Up to Stark Housing Reality
Legislation addressing dual inventory and affordability crises has new life on Capitol Hill thanks to NAR members’ efforts to push real estate priorities in Washington.
Legislation addressing dual inventory and affordability crises has new life on Capitol Hill thanks to NAR members’ efforts to push real estate priorities in Washington.
While consumer price inflation rose 3.4% in December, the Federal Reserve is still expected to cut interest rates by at least three times in 2024.
As mortgage interest rates have been flat since December 21, home buyers can plan smartly as they enter the buying market.
Hear what NAR’s Chief Economist Lawrence Yun is predicting for the residential and commercial markets in the coming year
The Fed indicated yesterday that they will hold the Fed Funds Rate steady for now and cut rates three times in 2024; NAR forecasts that mortgage interest rates will average 6.3% in 2024.
Annual median home prices are expected to remain largely unchanged at the national level in 2024, for the second straight year, modestly improving affordability from rising income.
The total number of housing units increased from 264.9 million units in 2012 to 287.5 million units in 2022.
Mortgage rates are plunging with the news of inflation calming. The interest rate rises should be over, and the Fed will have to consider cutting interest rates seriously.
Presented by NAR Chief Economist Lawrence Yun at the Residential Economic Issues & Trends Forum at the 2023 NAR NXT: The REALTOR® Experience meetings on November 14, 2023, in Anaheim, CA.
These slides were presented by NAR Deputy Chief Economist Dr. Jessica Lautz at the Communication Directors Meeting on November 13, 2023, at NAR NXT: The REALTOR® Experience, in Anaheim, CA.