2024 Housing Shakeup: Renting Rise, Boomerang Returns, and Price Drops?!

The housing market is expected to improve in 2024 as mortgage rates cool and inventory rises.

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Home sales are to pick up by 5% to 4.3 million, and prices to fall by 1%.

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Home-buying fees to decline due to increased competition among real estate firms.

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Renting is becoming more popular, especially for smaller units.

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Boomerang migration' as workers return to expensive cities and flee climate-disaster risks.

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Americans priced out of the market may move back in with their parents.

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Average 30-year fixed rate to fall to around 6.6% by year-end.

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Prices of large rental units are to climb, but prices of smaller units are to see downward pressure.

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Redfin's chief economist, Daryl Fairweather, predicts changes will favor buyers.

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