The housing market is set to witness growth against this backdrop of falling mortgage rates. Home sales are projected to reach nearly 5 million annually, while housing starts are anticipated to climb to over 1.3 million. Furthermore, home prices are expected to see a moderate uptick, with the home price index forecasted to rise by over 3% throughout this year.
These developments suggest a potential easing of the challenges faced by the housing market, which could bolster homebuyer confidence and stimulate home sales and construction activity. With mortgage rates retreating from their recent highs, the housing sector may be poised for a more robust performance in the coming months.
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Source: Economy - investing.com
