Let's get down to business. 2024 will not be an easy year for home buyers in the country. The shortage of available housing will continue and prices will continue to rise. And while mortgage rates may decline slightly over the course of the year, they will continue to play a key role in affordability for buyers who need a mortgage.
The pandemic has disrupted many things, most notably the housing market. The typically expected seasonal fluctuations in home prices and inventory were reversed in 2020 and 2021. And while 2023 data shows a return to more typical seasonal patterns, that doesn't mean smooth sailing for buyers.
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