What are the predictions for housing supply and demand in 2024?

What are the predictions for housing supply and demand in 2024?

In 2024, housing supply is expected to increase slightly due to new construction projects, but demand may outpace this growth due to population increases and low interest rates.

What factors are influencing these predictions?

Key factors include economic growth, interest rates, demographic trends, and government policies that affect housing development.

How will this impact housing prices?

If demand continues to exceed supply, we could see housing prices rise, potentially making affordability a significant issue.

Are there specific regions that will be more affected?

Yes, urban areas with high job growth and limited space for new construction are likely to experience the most significant price increases.

What can potential buyers do to prepare?

Potential buyers should consider getting pre-approved for a mortgage, researching neighborhoods, and being ready to act quickly when they find a suitable property.