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When demand outstrips supply, housing prices increase.
When supply is greater than demand, prices fall.
If rates fall substantially, that might be a catalyst for further home price increases.
Heres a look at all of the variablesthat could play a role.
And this traditional dynamic may well hold true again later in 2024 and into 2025. presidential electionand the ramifications of the new NAR settlement, which affects how real estate commissions are paid.
What Should You Do If Youre Planning on Buying?
Buying a home is not just anextremely personal decision, it also involves a lot of different variables.
Which ones you prioritize are what matters most in your home-buying decision.
The same is true with the direction of home prices.
But if buyers remain in wait-and-see mode or if the economy slips into a recession prices could fall.
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