“A marked turn can be expected as mortgage rates have plunged in recent weeks.”
- Lawrence Yun, Chief Economist, NAR
“We now forecast three consecutive 25bp cuts in March, May, and June to reset the policy rate from a level that Powell has recently taken to describing as “well into restrictive territory” rather than just “restrictive”.
- Goldman Sachs, December FOMC Recap
Home price gains in the CoreLogic S&P Case-Shiller Index have increased by [about] 7% since the beginning of the year and are 1% higher than at the peak in 2022, recovering all losses recorded in the second half of 2022.
- Selma Hepp, Chief Economist, CoreLogic
With mortgage rates dropping, demand for homes in early 2024 is likely to be strong and will again put pressure on prices, similar to trends observed in early 2023 . . . Most markets will continue to reach new home price highs over the course of 2024.
- Selma Hepp, Chief Economist, CoreLogic
