According to data from Bankrate, average interest rates have fallen by over one full point (1%) since they peaked in late October. Lawrence Yun, the chief economist for the National Association of Realtors, wrote that a “marked turn can be expected” as rates continue to drop. He is not alone. As shown in the adjacent chart, six of the eight home price forecasts are predicting that home prices will continue to appreciate in 2024. Scan the QR code to see my predictions and to watch our full monthly market report.
January 2024 Washington DC Metro Area Real Estate Market Update
