Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again?

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. What many had hoped would be a rosy spring home-buying season has turned into a thorny challenge for home shoppers already demoralized by a challenging market.Home sale activity was stagnant last month as mortgage rates and home prices maintained an upward trajectory. One silver lining is that more resale inventory entered the market, which should help rein in home price growth, at least to some extent.Even so, experts say the market will only see momentum return once mortgage rates drop low enough to make homes more affordable and incentivize homeowners locked in at cheap rates to move.Housing Market Forecast for 2024Experts insist the housing market will improve.Unfortunately, hopeful buyers continue to see a delay in this transformation, thanks partly to inflation, which is taking its sweet time cooling off, further delaying the Federal Reserve f...