The 2024 housing crash has been called off due to projected higher home prices as mortgage rates have fallen for 8 weeks in a row. The rate of decline of morgtgage rates is the highest in the last 14 years, since 2009. Home mortgage rates are projected to fall even further in 2024 as the Fed starts cutting interest rates. Home prices are likely to be higher as well moving forward.
Calls for a housing crash have been mitigated as home buyer demand has risen to the highest level in over a year and is projected to be high in 2024 and 2025 as mortgage rates fall substantially. A 30 year fixed mortgage is as low as 6.3% with a VA loan at 5.5%. Home prices are forecast to rise as interest rates fall over the next few years.
