From CNN Business:

The housing market is showing signs of a rebound in 2024, with falling mortgage rates and other promising indicators. Experts believe that the clouds are finally parting as labor market has cooled and inflation has steadied, possibly allowing Federal Reserev to start cutting interest rates.

Affordability is also improving as home affordability has improved from the record low this year. Falling rates have lured buyers back and the number of affordable homes for sale has increased.

New listings are picking up with a 9% annual increase, the largest since July 2021. As interest rates are bringing sellers back, lower rates are also boosting mortgage applications, though the paces are still sluggish.

Buyers seem excited about the falling rates and the increase in new listings. These three factors together are giving experts cautious optimism that the housing market will soon see a swift turnaround.



Read more: Housing Market 2024: 3 Signs the Market Is Bouncing Back