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February 18, 2024

Housing market may be thawing as rates dip and listings inch higher

The housing market may be thawing with indicators of renewed activity in the sector. Mortgage rates have decreased to near-record lows, and there is an increase in listings. This is due to more potential buyers who are encouraged by current low rates. The purchasing power of potential buyers has been maximized with the drop in mortgages. Additionally, individuals and businesses have been spending more due to improved sentiment, which has increased the demand for housing. These factors are contributing to an increase in home sales and refinancing. Furthermore, the projected economic recovery may add to the rest of the market’s strength, laying the foundation for a sturdy housing market in the near future.