High housing costs will remain a problem for young families next year, which will increase demand for large rentals and force the White House to make affordability a cornerstone of President Biden's reelection bid, according to Redfin.
The online brokerage firm suggests that signs point to a shift toward a buyer's market in 2024 as pandemic-driven inflation takes its last gasps, mortgage rates come down and more people list their homes for sale.
In a favorable shift to buyers, Redfin said prices will fall 1% year over year in the second and third quarters, when the home-selling season is in full swing.
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