【Zillow】Zillow’s Chief Economist’s 2024 Housing Market Resolutions

A severe inventory crunch in 2023 kept home values rising, disappointing especially first-time buyers hoping for a break amid the slowdown. “Rate lock” — homeowners who locked in long-term mortgages when rates were near 3% being reluctant to sell and take on a new mortgage with a much higher rate — is a big reason why. 

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