But if you're trying to decide between buying now or waiting, remember that there's no guarantee that rates or home prices will get cheaper in 2024.Worse yet for buyers, mortgage rates could keep rising for the rest of 2023.
Buyers have some agency when first purchasing a home though. With the real estate market softening due to high mortgage rates in late 2022 and early 2023, home prices have become"negotiable, even if they are not posted as such online," says Erin Sykes, chief economist at Nest Seekers International.These price increases reflect a chronic lack of supply, as the U.S. has a deficit of about 3.
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Source: Newsweek - 🏆 468. / 52 Read more »