U.S. new home sales pulled back by 5.6% in the month of October as mortgage rates remain higher for longer. Redfin Chief Economist Daryl Fairweather shares her predictions for the US housing market in 2024, taking into consideration mortgage rates and the amount of US homebuyers preferring all-cash offers.
"If rates fall below 7%, I think we're going to have a surprisingly strong year," Fairweather tells Yahoo Finance. "That's when I think we're going to see more people out there with bidding wars even."
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