2,000 h o u s e h o l d f o r m a t i o n s o u t p a c e c o m p l e t i o n s

EXPERT OPINIONS

“ A marked turn can be expected as mortgage rates have plunged in recent weeks .”

- Lawrence Yun , Chief Economist , NAR

IN MILLIONS

1,500

1,000

500

“ 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

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2022

Formations Completions

r a t e f o r e c a s t

Source : Cross Country Mortgage

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

30-YEAR fixed rate mortgage Mid-5 % to high-6 %

UNDER 6 %

should unlock move-up buyers

10-year Treasury

3 % TO 4.4 %

Return to more normal spreads could cause mortgage rates

TO DROP FURTHER

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

THROUGH SOCIAL MEDIA

Reported leads coming from email marketing

Source : NARS Stats , December 2023 3