Housing Market 2024: What's on the Radar for the Second Half of the Year, According to Experts – GOBankingRates

Housing Market 2024: What to Expect in the Second Half of the Year, Experts Say

As we head into the second half of 2024, experts are predicting some key trends in the housing market. According to industry insiders, there are a few things to keep an eye on in the coming months.

One major factor that could impact the market is interest rates. The Federal Reserve has been hinting at potential rate hikes, which could make borrowing more expensive for potential homebuyers. This could slow down the pace of home sales and impact prices in certain markets.

Another trend to watch is the impact of inflation on housing prices. With prices rising across the board, housing costs could also see an increase. This could make it more challenging for first-time buyers to enter the market and could also impact affordability for existing homeowners.

On the flip side, experts are also predicting a potential increase in inventory in the second half of the year. As more sellers enter the market, buyers may have more options to choose from. This could help to balance out some of the price increases seen in recent months.

Overall, the housing market in the second half of 2024 is expected to be a mix of challenges and opportunities. Keeping an eye on interest rates, inflation, and inventory levels will be key for both buyers and sellers in the coming months.