Market Should Turn Around In 2024 But There Are Wild Cards (Episode 113)

The housing market had a tough year in 2023 as tight supply and high costs of borrowing continued to create challenges for buyers and sellers. With rates declining to a 7-month low late last year, the market began to see an increase in activity at the start of the year, but the improvement is expected to be gradual. Rising insurance costs and uncertainty in the commercial real estate sector will remain some of the market risks in 2024.