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So, where does this leave the market heading into 2025?Heres what the experts have to say.
Daryl Fairweather, chief economist at Redfin, toldCNBC, People have waited long enough.
The housing market has been so resilient to interest rates going up as high as they have.
The return of President-elect Donald Trump to the Oval Office could further exacerbate home price gains.
The experts at Realtor.com concur, predicting that inventory will surge 11.7% in 2025.
With more buyers flooding the market, this may boost overall home sales in 2025.
A decrease in rates should have a stimulative effect on buying.
Will the economy weaken, leading to job losses andmore distressed selling, which would drive prices lower?
Will mortgage rates eventually fall in line with inflation, or will they remain at elevated levels?
Will increased inventory satisfy the pent-up demand from buyers that currently exists?
Even the expertscan only make educated guesses at this point.
Overall, however, the general consensus is that both demand and home pricing will remain strong in 2025.
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