A Glimpse into the Future: NAR Chief Economist Forecasts a Promising 2024 Real Estate Landscape
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A Glimpse into the Future: NAR Chief Economist Forecasts a Promising 2024 Real Estate Landscape
The National Association of Realtors (NAR) Chief Economist, Lawrence Yun, recently unveiled a positive outlook for the real estate market in 2024. According to Yun's projections, 4.71 million existing homes are expected to be sold, with Austin, Texas emerging as the top real estate market to watch in the coming year and beyond. This forecast was presented during NAR's fifth annual year-end Real Estate Forecast Summit: The Year Ahead.
Yun anticipates a robust growth trajectory for the housing market, with a forecasted 13.5% increase in home sales compared to 2023. The median home price is predicted to reach $389,500, reflecting a 0.9% uptick from the…
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