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Falling prices set to ring buyer’s delight
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Redfin expects housing prices to reduce, putting the ‘Sale’ on the ‘For Sale’ sign in brighter lights
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Mortgage rates are following suit
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Lower mortgage rates are set to play the perfect pair for the falling housing prices making home-buying less burdensome
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Presidential election may pivot on housing issues
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The 2024 presidential election might see candidates taking a detour from their traditional campaign trails to discuss housing issues
A Dose of Humor on the Redfin Outlook for 2024
To the decliners and sceptics of housing affordability, Redfin has a news ticker flashing a soothing sight on the horizon: Falling Housing Prices! Roll out the red carpet, because home buyers, especially those with slim-to-none wallets might just find this to be their Cinderella moment. And it’s not just Clifford Chance who’s offering the stimulating prospects. Your friendly banks are doing it too with lower mortgage rates. Looks like the banks are betting on the mantra: ‘We’ll reduce the rate now, so you can pay us for a more extended period later’. Whoops!
Turning to more significant things like the Presidential election, it’s ironic that we are looking at the possibility of discussions around the backyard discussions may find prominence in the candidate’s oratory shenanigans. You thought ‘Homes’ were just too domestic for such a grand platform?
And there you have it folks! Moral of the story, if you have been turning the couch upside down for the lost pennies, it might be the right time to start searching in the real estate market. Not only can you possibly afford a place, but a presidential candidate might also come knocking your door to discuss housing issues. Just make sure they don’t prefer coffee. That’s where the other lost penny went! So, buckle up, 2024 could prove to be an exclusive roller coaster for potential home buyers. And sellers? Just enjoy the ride; you just might unload some properties at democratic prices! End of day, we all love a good Sale, don’t we?
Original article: https://www.inman.com/2023/12/05/buyers-market-to-usher-in-season-of-hope-in-2024-redfin-projects/
