NAR unveils hotspots for housing demand

The US housing market is poised for growth in 2024 as mortgage rates decline and income increases, according to the National Association of Realtors (NAR).

NAR chief economist Lawrence Yun projected that home sales will start to recover next year, with expectations of a 13.5% increase compared to 2023.

Around 4.71 million existing homes are expected to be sold. The median home price will likely rise to $389,500, a modest 0.9% increase from this year.