After a rough 2023, the US housing market is showing signs of a rebound.
The US housing marketing has been in a slump lately, with year-over-year existing home sales struggling through 2023 on a shortage of inventory and rising interest rates.
However, that trend could see a turnaround in 2024. Rates have dropped recently. If that holds, and housing inventory continues to reload after a sluggish 2023, we could see a nice rebound in parts of the US.
The housing market drives many other local retail and service industries. For example, as much as 25% of consumer furnishing purchases are triggered by a move.
Even in some of the more expensive markets, we’ll see double-digit sales growth as sales start to rebound from their historic lows, helped by mortgage rates that are expected to finally relent
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What are the markets to watch in 2024 as housing begins its turnaround? – Furniture Today