We made it...As we discussed in our 2023 Half Time Report, it would be just a matter of time before rate increases moderated, and rates eventually come down again. In this case, we are anticipating a rate cut to stave off a recession, as opposed to cure one.
In anticipation of these rate cuts, we are now seeing housing inventory increasing, which is very much needed!
In the short term you will see this cause a moderation on price appreciation...
But as you see rates come down, it will be gang busters with increased price appreciation due to more demand than supply can keep up with, but hopefully not as high as what occurred in '20-'22 as that is not sustainable for the long term. We will likely reach a more equilibrium between supply and demand once we are in the 5%s, possibly 4%s, although we will likely be in a seller's market for the next few years due to the lack of homes built in the 2010-2019 decade
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