US house prices saw strong gains in 2023, defying widespread expectations for them to fall as surging mortgage rates crimped supply. Will falling borrowing costs in 2024 swamp the market with a wave of new listings or could house prices surprise to the upside again?
Senior Property Economist Andrew Wishart and Thomas Ryan, who leads our US housing coverage, addressed this question in their special discussion about the outlook for US housing in 2024. During this online briefing, the team answered client questions and addressed key issues, including:
- How much further mortgage rates could fall over 2024;
- Whether lower borrowing costs will “unlock” the market;
- What will this all mean for house prices in 2024.
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