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NBC5 (Fort Worth, TX)
Will 2024 be a good year to buy a home? That's a question on the minds of many prospective home buyers after 2023 brought the highest mortgage rates in 20 years and low housing inventory. Austin and DFW will be the hottest housing markets in the country according to the National Association of Realtors®, because both have a lot of pent-up demand and are expected to recover faster. NBC 5 Anchor Brittney Johnson spoke with one of the nation's most prominent housing economists and a prospective homebuyer to break down predictions for 2024. At the rate Texas is growing, experts expect prices and demand to only go up from here. NBC 5 Anchor Brittany Johnson spoke to Dr. Lawrence Yun, Chief Economist for the National Association of Realtors®. When asked about his big predictions for 2024, Dr. Yun said he expects home sales will inevitably rise. "I believe in 2024, we will see more home construction, more supply, and also some delayed potential home sellers coming into the market. Now that the mortgage rates are coming down," said Dr. Yun.
